Shaker Financial Services LLC Sells 149,668 Shares of Tri Continental Corporation $TY

Shaker Financial Services LLC reduced its stake in Tri Continental Corporation (NYSE:TY) by 92.2% during the third quarter, HoldingsChannel reports. The firm owned 12,682 shares of the investment management company’s stock after selling 149,668 shares during the quarter. Shaker Financial Services LLC’s holdings in Tri Continental were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TY. Allspring Global Investments Holdings LLC lifted its stake in Tri Continental by 12.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 311,551 shares of the investment management company’s stock valued at $9,864,000 after purchasing an additional 35,000 shares during the last quarter. Bard Financial Services Inc. grew its stake in shares of Tri Continental by 6.1% during the second quarter. Bard Financial Services Inc. now owns 470,799 shares of the investment management company’s stock worth $14,906,000 after buying an additional 26,965 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Tri Continental during the first quarter worth $737,000. Allworth Financial LP lifted its stake in shares of Tri Continental by 146.1% in the 2nd quarter. Allworth Financial LP now owns 40,485 shares of the investment management company’s stock valued at $1,282,000 after acquiring an additional 24,037 shares during the last quarter. Finally, Cornerstone Advisors LLC acquired a new stake in shares of Tri Continental during the 2nd quarter valued at $667,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri Continental Stock Performance

Shares of TY stock opened at $33.05 on Thursday. Tri Continental Corporation has a twelve month low of $26.54 and a twelve month high of $35.05. The stock’s fifty day simple moving average is $33.63 and its 200 day simple moving average is $33.30.

Tri Continental Increases Dividend

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

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.