Tri Continental (NYSE:TY) Portfolio Manager Yan Jin Sells 2,500 Shares

Tri Continental Corporation (NYSE:TY) Portfolio Manager Yan Jin sold 2,500 shares of Tri Continental stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $34.87, for a total transaction of $87,175.00. Following the completion of the sale, the portfolio manager owned 12,919 shares of the company’s stock, valued at $450,485.53. This represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tri Continental Stock Performance

Shares of TY stock traded up $0.28 during trading hours on Thursday, reaching $35.27. The company had a trading volume of 9,563 shares, compared to its average volume of 37,978. The business has a fifty day moving average price of $33.31 and a 200-day moving average price of $33.29. Tri Continental Corporation has a one year low of $30.40 and a one year high of $35.47.

Tri Continental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 16th will be paid a $0.2852 dividend. This is a boost from Tri Continental’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 16th.

Hedge Funds Weigh In On Tri Continental

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Tri Continental by 3.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,007 shares of the investment management company’s stock worth $327,000 after buying an additional 327 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Tri Continental by 0.6% in the fourth quarter. Royal Bank of Canada now owns 57,171 shares of the investment management company’s stock worth $1,867,000 after buying an additional 365 shares during the last quarter. Successful Portfolios LLC boosted its holdings in shares of Tri Continental by 2.7% in the fourth quarter. Successful Portfolios LLC now owns 15,197 shares of the investment management company’s stock worth $505,000 after buying an additional 406 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Tri Continental by 6.3% in the fourth quarter. International Assets Investment Management LLC now owns 8,126 shares of the investment management company’s stock worth $265,000 after buying an additional 482 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Tri Continental by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 53,953 shares of the investment management company’s stock worth $1,762,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

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.