Tri Continental (NYSE:TY) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Tri Continental Corporation (NYSE:TY) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.47 and traded as low as $33.16. Tri Continental shares last traded at $33.22, with a volume of 29,842 shares trading hands.

Tri Continental Stock Performance

The business has a 50 day moving average of $33.33 and a two-hundred day moving average of $33.47.

Tri Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 12th were given a dividend of $2.3154 per share. The ex-dividend date of this dividend was Friday, December 12th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.27. This represents a $9.26 dividend on an annualized basis and a dividend yield of 27.9%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC lifted its holdings in Tri Continental by 3.4% during the second quarter. Foundations Investment Advisors LLC now owns 11,683 shares of the investment management company’s stock valued at $370,000 after purchasing an additional 385 shares during the last quarter. Successful Portfolios LLC increased its stake in shares of Tri Continental by 2.7% in the fourth quarter. Successful Portfolios LLC now owns 15,197 shares of the investment management company’s stock worth $505,000 after purchasing an additional 406 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in shares of Tri Continental by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 91,759 shares of the investment management company’s stock valued at $3,120,000 after purchasing an additional 417 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of Tri Continental by 5.5% during the 2nd quarter. Level Four Advisory Services LLC now owns 8,718 shares of the investment management company’s stock valued at $276,000 after buying an additional 453 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its stake in shares of Tri Continental by 3.4% during the 2nd quarter. Tower Wealth Partners Inc. now owns 14,323 shares of the investment management company’s stock valued at $453,000 after buying an additional 471 shares in the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri Continental Company Profile

Tri-Continental Corporation is a diversified closed-end management investment company that seeks to generate long-term total return through a combination of capital appreciation and income. The firm offers investors access to a broad portfolio of securities through a single, actively managed vehicle listed on the New York Stock Exchange under the ticker TY.

The company’s core strategy centers on investing primarily in equity securities of companies located in North America, Europe and the Pacific Basin.