Wolverine Asset Management LLC Reduces Position in Tri Continental Corporation $TY

Wolverine Asset Management LLC cut its holdings in shares of Tri Continental Corporation (NYSE:TY) by 89.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,969 shares of the investment management company’s stock after selling 138,085 shares during the quarter. Wolverine Asset Management LLC’s holdings in Tri Continental were worth $543,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TY. HM Payson & Co. acquired a new position in shares of Tri Continental during the 3rd quarter worth approximately $35,000. Ameritas Advisory Services LLC purchased a new position in Tri Continental during the second quarter worth approximately $39,000. BNP Paribas Financial Markets boosted its stake in Tri Continental by 529.5% during the second quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock worth $40,000 after buying an additional 1,059 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Tri Continental by 49.7% in the 1st quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company’s stock valued at $83,000 after buying an additional 877 shares in the last quarter. Finally, CWM LLC grew its holdings in Tri Continental by 83.9% in the 3rd quarter. CWM LLC now owns 3,285 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,499 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri Continental Trading Down 0.5%

NYSE TY opened at $33.07 on Friday. The business’s fifty day simple moving average is $33.50 and its 200-day simple moving average is $33.40. Tri Continental Corporation has a 52 week low of $26.54 and a 52 week high of $35.05.

Tri Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 12th were issued a $2.3154 dividend. This represents a $9.26 annualized dividend and a yield of 28.0%. The ex-dividend date was Friday, December 12th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.27.

Tri Continental Company Profile

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.