Quadrant Private Wealth Management LLC Invests $1.31 Million in Tri Continental Corporation $TY

Quadrant Private Wealth Management LLC purchased a new stake in Tri Continental Corporation (NYSE:TY) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 38,406 shares of the investment management company’s stock, valued at approximately $1,306,000.

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

Tri Continental Price Performance

Shares of NYSE:TY opened at $33.16 on Friday. The company’s fifty day moving average is $33.39 and its two-hundred day moving average is $33.41. Tri Continental Corporation has a 12-month low of $26.54 and a 12-month high of $35.05.

Tri Continental Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 12th were given a dividend of $2.3154 per share. The ex-dividend date of this dividend was Friday, December 12th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.27. This represents a $9.26 annualized dividend and a yield of 27.9%.

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.