Tri Continental (NYSE:TY) Shares Break Above 200 Day Moving Average – Time to Sell?

Tri Continental Corporation (NYSE:TY)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $34.18 and traded as high as $34.78. Tri Continental shares last traded at $34.5850, with a volume of 41,789 shares traded.

Tri Continental Trading Up 0.1%

The business has a 50-day moving average price of $34.65 and a 200-day moving average price of $34.19.

Tri Continental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were paid a dividend of $0.2962 per share. This is an increase from Tri Continental’s previous quarterly dividend of $0.2852. This represents a $1.18 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, September 14th.

Institutional Investors Weigh In On Tri Continental

Several institutional investors and hedge funds have recently bought and sold shares of TY. MADDEN SECURITIES Corp acquired a new position in Tri Continental during the 3rd quarter worth about $46,000. BlackRock Inc. bought a new stake in Tri Continental during the 2nd quarter worth about $54,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Tri Continental in the 2nd quarter valued at about $106,000. Bessemer Group Inc. increased its position in Tri Continental by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 4,997 shares of the investment management company’s stock valued at $157,000 after acquiring an additional 2,196 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Tri Continental by 22.6% in the second quarter. Brown Lisle Cummings Inc. now owns 5,150 shares of the investment management company’s stock worth $177,000 after acquiring an additional 950 shares during the last quarter. Institutional investors own 10.22% of the company’s stock.

About Tri Continental

Tri-Continental Corporation is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol TY. Rather than operating a commercial business, the company manages a diversified portfolio of investments for its stockholders.

The fund invests primarily in publicly traded securities, including common stocks, preferred stocks, convertible securities and fixed-income investments. Its objective is long-term capital growth, with current income as a secondary consideration.