Tri-Continental (NYSE:TY) Hits New 12-Month High - Here's What Happened

Shares of Tri-Continental Co. (NYSE:TY - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $33.60 and last traded at $33.53, with a volume of 783 shares changing hands. The stock had previously closed at $33.48.

Tri-Continental Trading Down 0.4 %

The company's 50-day moving average is $32.15 and its 200 day moving average is $31.17.

Tri-Continental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a $0.291 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Friday, September 13th. This is a positive change from Tri-Continental's previous quarterly dividend of $0.29.

Hedge Funds Weigh In On Tri-Continental

A number of hedge funds have recently bought and sold shares of the business. EP Wealth Advisors LLC acquired a new position in Tri-Continental during the fourth quarter worth $212,000. Stolper Co raised its position in shares of Tri-Continental by 0.7% during the 1st quarter. Stolper Co now owns 53,152 shares of the investment management company's stock worth $1,637,000 after purchasing an additional 380 shares during the last quarter. 9258 Wealth Management LLC purchased a new position in Tri-Continental in the 1st quarter valued at about $213,000. Oppenheimer & Co. Inc. acquired a new stake in Tri-Continental in the 1st quarter worth about $324,000. Finally, Concurrent Investment Advisors LLC increased its stake in Tri-Continental by 2.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 24,469 shares of the investment management company's stock worth $754,000 after buying an additional 620 shares in the last quarter. Hedge funds and other institutional investors 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.