Tri Continental (NYSE:TY) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Tri Continental Corporation (NYSE:TY)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.55 and traded as low as $33.23. Tri Continental shares last traded at $33.2850, with a volume of 23,406 shares changing hands.

Tri Continental Price Performance

The firm’s 50-day moving average is $33.00 and its 200-day moving average is $33.55.

Hedge Funds Weigh In On Tri Continental

Large investors have recently modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new stake in Tri Continental in the fourth quarter worth approximately $29,000. HM Payson & Co. bought a new stake in shares of Tri Continental in the 3rd quarter worth approximately $35,000. BNP Paribas Financial Markets boosted its stake in shares of Tri Continental by 529.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock valued at $40,000 after purchasing an additional 1,059 shares in the last quarter. Assetmark Inc. bought a new position in shares of Tri Continental during the 4th quarter valued at $54,000. Finally, Advocate Investing Services LLC purchased a new position in Tri Continental in the 4th quarter worth $54,000. 10.22% of the stock is owned by hedge funds and other institutional investors.

About Tri Continental

Tri-Continental Corporation is a diversified closed-end management investment company that seeks to generate long-term total return through a combination of capital appreciation and income. The firm offers investors access to a broad portfolio of securities through a single, actively managed vehicle listed on the New York Stock Exchange under the ticker TY.

The company’s core strategy centers on investing primarily in equity securities of companies located in North America, Europe and the Pacific Basin.