Tri Continental (NYSE:TY) Stock Price Breaks Below 200 Day Moving Average – Should You Sell?

Tri Continental Corporation (NYSE:TY) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $34.22 and traded as low as $33.90. Tri Continental shares last traded at $33.9960, with a volume of 21,305 shares.

Tri Continental Price Performance

The company has a 50-day moving average price of $34.55 and a 200-day moving average price of $34.22.

Tri Continental Increases Dividend

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

Hedge Funds Weigh In On Tri Continental

A number of institutional investors have recently modified their holdings of TY. MADDEN SECURITIES Corp purchased a new position in shares of Tri Continental during the third quarter valued at approximately $46,000. BlackRock Inc. purchased a new stake in Tri Continental in the 2nd quarter worth approximately $54,000. Northwestern Mutual Wealth Management Co. acquired a new position in Tri Continental in the 2nd quarter valued at $106,000. Bessemer Group Inc. lifted its stake in shares of Tri Continental by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 4,997 shares of the investment management company’s stock worth $157,000 after purchasing an additional 2,196 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its stake in shares of Tri Continental by 22.6% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 5,150 shares of the investment management company’s stock worth $177,000 after purchasing an additional 950 shares during the period. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri Continental Company Profile

Tri-Continental Corporation (NYSE: TY) is a diversified closed-end investment company. Rather than operating a traditional business, it invests in a portfolio of securities with the objective of providing long-term growth of capital and income. The fund invests primarily in stocks and may also hold other securities, including bonds and convertible securities. Its portfolio can include investments in U.S. and international companies, giving shareholders exposure to a range of businesses and industries.