Yan Jin Sells 2,500 Shares of Tri Continental (NYSE:TY) Stock

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

Tri Continental Trading Up 0.3%

Shares of Tri Continental stock opened at $35.28 on Friday. The business’s 50 day simple moving average is $33.45 and its 200-day simple moving average is $33.31. Tri Continental Corporation has a twelve month low of $30.40 and a twelve month high of $35.50.

Tri Continental Increases Dividend

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

Hedge Funds Weigh In On Tri Continental

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC bought a new position in Tri Continental in the 4th quarter worth approximately $29,000. Hanson & Doremus Investment Management bought a new position in Tri Continental in the 1st quarter worth approximately $29,000. BNP Paribas Financial Markets grew its holdings in 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 worth $40,000 after buying an additional 1,059 shares in the last quarter. Assetmark Inc. bought a new position in Tri Continental in the 4th quarter worth approximately $54,000. Finally, Advocate Investing Services LLC bought a new position in Tri Continental in the 4th quarter worth approximately $54,000. 10.22% of the stock is owned by 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.