Tri Continental (NYSE:TY) Portfolio Manager Sells $87,175.00 in Stock

Tri Continental Corporation (NYSE:TY) Portfolio Manager Yan Jin sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $34.87, for a total transaction of $87,175.00. Following the sale, the portfolio manager owned 12,919 shares of the company’s stock, valued at approximately $450,485.53. This represents a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Tri Continental Stock Up 0.8%

NYSE:TY traded up $0.28 on Thursday, reaching $35.27. 9,563 shares of the stock traded hands, compared to its average volume of 37,978. Tri Continental Corporation has a 12 month low of $30.40 and a 12 month high of $35.47. The company’s fifty day simple moving average is $33.31 and its 200 day simple moving average is $33.29.

Tri Continental Increases Dividend

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

Institutional Trading of Tri Continental

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Retirement Investments LLC bought a new stake in Tri Continental during the 4th quarter valued at about $29,000. Hanson & Doremus Investment Management bought a new stake in shares of Tri Continental in the first quarter worth approximately $29,000. BNP Paribas Financial Markets grew its stake in shares of Tri Continental by 529.5% in the second quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock worth $40,000 after acquiring an additional 1,059 shares during the period. Assetmark Inc. bought a new stake in shares of Tri Continental in the fourth quarter worth approximately $54,000. Finally, Advocate Investing Services LLC bought a new stake in shares of Tri Continental in the fourth quarter worth approximately $54,000. 10.22% of the stock is currently owned by institutional investors.

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.