Tri-Continental (NYSE:TY) Sees Strong Trading Volume – Here’s What Happened

Shares of Tri-Continental Co. (NYSE:TYGet Free Report) saw strong trading volume on Monday . 70,832 shares were traded during mid-day trading, an increase of 82% from the previous session’s volume of 38,884 shares.The stock last traded at $31.60 and had previously closed at $31.42.

Tri-Continental Stock Performance

The company’s 50-day simple moving average is $33.46 and its 200 day simple moving average is $32.28.

Tri-Continental Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 13th will be paid a $0.285 dividend. This represents a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 13th.

Hedge Funds Weigh In On Tri-Continental

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its holdings in shares of Tri-Continental by 1.2% in the third quarter. Sanctuary Advisors LLC now owns 63,004 shares of the investment management company’s stock valued at $2,135,000 after acquiring an additional 720 shares in the last quarter. RB Capital Management LLC grew its stake in Tri-Continental by 2.5% during the 3rd quarter. RB Capital Management LLC now owns 58,925 shares of the investment management company’s stock valued at $1,947,000 after purchasing an additional 1,419 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Tri-Continental in the third quarter worth about $3,411,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tri-Continental during the third quarter worth about $7,366,000. Finally, Walleye Capital LLC purchased a new stake in Tri-Continental in the third quarter valued at approximately $269,000. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Company Profile

(Get Free Report)

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.

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