Quadrant Private Wealth Management LLC Buys New Stake in Tri Continental Corporation $TY

Quadrant Private Wealth Management LLC purchased a new position in shares of Tri Continental Corporation (NYSE:TY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 38,406 shares of the investment management company’s stock, valued at approximately $1,306,000. Quadrant Private Wealth Management LLC owned 0.07% of Tri Continental as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC raised its stake in shares of Tri Continental by 0.6% during the third quarter. Blue Bell Private Wealth Management LLC now owns 418,033 shares of the investment management company’s stock valued at $14,213,000 after purchasing an additional 2,290 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Tri Continental by 7.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,196 shares of the investment management company’s stock worth $11,431,000 after buying an additional 24,645 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Tri Continental by 1.5% during the 2nd quarter. Raymond James Financial Inc. now owns 263,482 shares of the investment management company’s stock worth $8,342,000 after buying an additional 3,857 shares in the last quarter. Shaker Financial Services LLC lifted its stake in shares of Tri Continental by 79.8% in the 2nd quarter. Shaker Financial Services LLC now owns 162,350 shares of the investment management company’s stock worth $5,140,000 after acquiring an additional 72,063 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Tri Continental by 14.3% in the second quarter. Wolverine Asset Management LLC now owns 154,054 shares of the investment management company’s stock valued at $4,877,000 after acquiring an additional 19,270 shares in the last quarter. Institutional investors own 10.22% of the company’s stock.

Tri Continental Trading Up 0.6%

NYSE TY opened at $33.16 on Friday. Tri Continental Corporation has a 12 month low of $26.54 and a 12 month high of $35.05. The company’s 50 day simple moving average is $33.39 and its 200 day simple moving average is $33.41.

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 given a dividend of $2.3154 per share. This is a boost from Tri Continental’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 12th. This represents a $9.26 annualized dividend and a dividend yield of 27.9%.

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.