Tri-Continental Co. (NYSE:TY - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $28.70 and last traded at $28.73, with a volume of 10737 shares. The stock had previously closed at $29.60.
Tri-Continental Trading Up 7.6 %
The company's 50-day moving average is $31.36 and its two-hundred day moving average is $32.39.
Tri-Continental Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were paid a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Tuesday, March 18th.
Insider Transactions at Tri-Continental
In other news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the transaction, the director now owns 101 shares in the company, valued at approximately $3,154.23. This represents a 94.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.66% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tri-Continental
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TY. Raymond James Financial Inc. purchased a new position in shares of Tri-Continental in the fourth quarter worth about $10,315,000. Cornerstone Advisory LLC bought a new position in Tri-Continental in the 4th quarter worth approximately $4,214,000. Platform Technology Partners grew its stake in Tri-Continental by 69.0% in the 4th quarter. Platform Technology Partners now owns 97,531 shares of the investment management company's stock valued at $3,091,000 after buying an additional 39,819 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Tri-Continental by 95.3% during the 4th quarter. Concurrent Investment Advisors LLC now owns 59,871 shares of the investment management company's stock valued at $1,897,000 after acquiring an additional 29,212 shares during the period. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Tri-Continental during the 4th quarter valued at $386,000. 10.22% of the stock is currently owned by institutional investors.
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.
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