Free Trial

Tri-Continental (NYSE:TY) Hits New 52-Week High - Time to Buy?

Tri-Continental logo with Finance background

Tri-Continental Co. (NYSE:TY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.20 and last traded at $33.20, with a volume of 17142 shares traded. The stock had previously closed at $32.97.

Tri-Continental Stock Up 0.6 %

The business has a 50 day simple moving average of $31.98 and a 200 day simple moving average of $31.09.

Tri-Continental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, September 13th. This is an increase from Tri-Continental's previous quarterly dividend of $0.29.

Institutional Trading of Tri-Continental

Institutional investors and hedge funds have recently bought and sold shares of the business. Atwood & Palmer Inc. purchased a new position in Tri-Continental in the second quarter valued at $84,000. Motco acquired a new position in Tri-Continental in the 1st quarter worth about $108,000. Northwestern Mutual Wealth Management Co. boosted its position in Tri-Continental by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company's stock worth $111,000 after purchasing an additional 579 shares in the last quarter. Choate Investment Advisors acquired a new stake in Tri-Continental in the first quarter valued at approximately $213,000. Finally, 9258 Wealth Management LLC purchased a new stake in shares of Tri-Continental in the first quarter valued at approximately $213,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

About Tri-Continental

(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.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in Tri-Continental right now?

Before you consider Tri-Continental, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tri-Continental wasn't on the list.

While Tri-Continental currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

A Guide To High-Short-Interest Stocks Cover

MarketBeat's analysts have just released their top five short plays for November 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Post-Election Chaos or Opportunity? Prepare Your Investments
Strong Markets Meet Rising Volatility—Are Your Investments Safe?
Analysts Bullish on AI-Powered Healthcare: Intuitive Surgical’s 30% Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines