Tri-Continental (NYSE:TY) Sets New 52-Week High at $30.81

Tri-Continental Co. (NYSE:TY) reached a new 52-week high during trading on Thursday . The company traded as high as $30.81 and last traded at $30.81, with a volume of 1610 shares changing hands. The stock had previously closed at $30.63.

Tri-Continental Stock Up 0.8 %

The business’s 50 day moving average is $29.56 and its 200 day moving average is $28.12.

Tri-Continental Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Monday, March 11th were paid a dividend of $0.256 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.02 annualized dividend and a yield of 3.32%.

Institutional Trading of Tri-Continental

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Arbitrage LLC raised its stake in shares of Tri-Continental by 113.6% during the 3rd quarter. AQR Arbitrage LLC now owns 54,558 shares of the investment management company’s stock valued at $1,451,000 after buying an additional 29,018 shares during the last quarter. Mariner LLC purchased a new position in Tri-Continental in the third quarter valued at $1,938,000. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Tri-Continental in the third quarter worth about $1,521,000. Janney Montgomery Scott LLC grew its position in shares of Tri-Continental by 7.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 18,298 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 1,230 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Tri-Continental by 9.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 445,892 shares of the investment management company’s stock valued at $11,856,000 after purchasing an additional 38,962 shares in the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

About Tri-Continental

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.