Tri-Continental (NYSE:TY) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Tri-Continental Co. (NYSE:TY) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.39 and traded as low as $30.97. Tri-Continental shares last traded at $31.36, with a volume of 60,292 shares.

Tri-Continental Price Performance

The business has a fifty day simple moving average of $32.98 and a 200 day simple moving average of $32.39.

Tri-Continental Cuts Dividend

The firm also recently announced a — dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 13th were issued a $0.285 dividend. This represents a yield of 3.3%. The ex-dividend date was Friday, December 13th.

Institutional Investors Weigh In On Tri-Continental

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. increased its position in shares of Tri-Continental by 0.4% in the third quarter. D.A. Davidson & CO. now owns 81,380 shares of the investment management company’s stock valued at $2,689,000 after buying an additional 360 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Tri-Continental by 19.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after buying an additional 579 shares in the last quarter. Sanctuary Advisors LLC increased its position 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 buying an additional 720 shares in the last quarter. US Bancorp DE increased its position in shares of Tri-Continental by 16.4% in the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock valued at $187,000 after buying an additional 796 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of Tri-Continental by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 30,659 shares of the investment management company’s stock valued at $1,013,000 after buying an additional 1,321 shares in the last quarter. Institutional investors and hedge funds 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.