Tri-Continental (NYSE:TY) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Tri-Continental Co. (NYSE:TY) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $32.25 and traded as low as $28.21. Tri-Continental shares last traded at $28.77, with a volume of 68,063 shares changing hands.

Tri-Continental Trading Down 1.5 %

The firm has a 50-day simple moving average of $30.83 and a 200-day simple moving average of $32.20.

Tri-Continental Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.2766 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Tuesday, March 18th.

Insider Transactions at Tri-Continental

In related news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the transaction, the director now owns 101 shares of the company’s stock, valued at approximately $3,154.23. The trade was a 94.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TY. JPMorgan Chase & Co. grew its stake in Tri-Continental by 218.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company’s stock worth $435,000 after buying an additional 9,027 shares in the last quarter. Allworth Financial LP increased its stake in Tri-Continental by 3.1% in the fourth quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock valued at $509,000 after acquiring an additional 472 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Tri-Continental by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 68,080 shares of the investment management company’s stock valued at $2,222,000 after acquiring an additional 5,076 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Tri-Continental by 4.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 58,389 shares of the investment management company’s stock valued at $1,850,000 after purchasing an additional 2,369 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in Tri-Continental during the fourth quarter worth about $270,000. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Company Profile

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.