Tri-Continental (NYSE:TY) Sees Unusually-High Trading Volume

Tri-Continental Co. (NYSE:TY) saw unusually-strong trading volume on Wednesday . Approximately 65,134 shares traded hands during trading, an increase of 75% from the previous session’s volume of 37,231 shares.The stock last traded at $30.70 and had previously closed at $30.83.

Tri-Continental Trading Up 0.6 %

The firm has a fifty day simple moving average of $30.44 and a 200-day simple moving average of $29.73.

Tri-Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th were given a $0.29 dividend. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.74%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Motco acquired a new position in Tri-Continental during the 1st quarter valued at approximately $108,000. YHB Investment Advisors Inc. acquired a new position in Tri-Continental during the 1st quarter valued at approximately $158,000. 9258 Wealth Management LLC acquired a new position in Tri-Continental during the 1st quarter valued at approximately $213,000. Choate Investment Advisors acquired a new position in Tri-Continental during the 1st quarter valued at approximately $213,000. Finally, Independent Family Office LLC acquired a new position in Tri-Continental during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

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.