Tri-Continental (NYSE:TY) Hits New 52-Week High – Should You Buy?

Tri-Continental Co. (NYSE:TY)’s stock price reached a new 52-week high on Monday . The company traded as high as $34.34 and last traded at $34.18, with a volume of 29394 shares traded. The stock had previously closed at $33.89.

Tri-Continental Stock Up 0.2 %

The stock’s fifty day simple moving average is $33.26 and its two-hundred day simple moving average is $31.93.

Tri-Continental Cuts Dividend

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

Institutional Trading of Tri-Continental

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Tri-Continental by 3.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock worth $14,595,000 after purchasing an additional 15,350 shares during the period. International Assets Investment Management LLC boosted its position in shares of Tri-Continental by 3,203.9% in the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock worth $7,031,000 after buying an additional 225,264 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tri-Continental in the third quarter valued at about $7,366,000. Cornerstone Advisors LLC raised its holdings in shares of Tri-Continental by 18.1% during the 2nd quarter. Cornerstone Advisors LLC now owns 167,382 shares of the investment management company’s stock valued at $5,184,000 after buying an additional 25,646 shares during the period. Finally, Shaker Financial Services LLC lifted its position in Tri-Continental by 69.7% during the 3rd quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company’s stock worth $5,321,000 after acquiring an additional 66,148 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

About Tri-Continental

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.