86,983 Shares in Tri Continental Corporation $TY Bought by Shaker Financial Services LLC

Shaker Financial Services LLC bought a new stake in shares of Tri Continental Corporation (NYSE:TY – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 86,983 shares of the investment management company’s stock, valued at approximately $2,987,000.

Other hedge funds have also recently made changes to their positions in the company. EP Wealth Advisors LLC purchased a new stake in shares of Tri Continental in the 2nd quarter worth approximately $2,584,000. RB Capital Management LLC purchased a new position in Tri Continental during the second quarter valued at $2,102,000. Evolve Private Wealth LLC purchased a new position in Tri Continental during the second quarter valued at $1,976,000. Bank of America Corp DE bought a new stake in Tri Continental in the second quarter worth $1,637,000. Finally, Allworth Financial LP bought a new stake in Tri Continental in the second quarter worth $1,418,000. 10.22% of the stock is owned by institutional investors.

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Tri Continental Price Performance

Shares of NYSE:TY traded down $0.06 on Wednesday, hitting $34.72. 9,037 shares of the company traded hands, compared to its average volume of 35,650. The stock has a 50 day simple moving average of $35.13 and a 200-day simple moving average of $34.62. Tri Continental Corporation has a 52 week low of $30.53 and a 52 week high of $36.55.

Tri Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were paid a dividend of $0.2962 per share. The ex-dividend date was Monday, September 14th. This represents a $1.18 dividend on an annualized basis and a yield of 3.4%. This is an increase from Tri Continental’s previous quarterly dividend of $0.2852.

About Tri Continental

(Free Report)

Tri-Continental Corporation (NYSE: TY) is a diversified closed-end investment company that seeks long-term capital appreciation and current income for its shareholders. Rather than operating a conventional business, the company invests in a portfolio of publicly traded securities.

Its portfolio may include common stocks, preferred stocks, convertible securities and other income-producing investments. Through these holdings, Tri-Continental provides investors with exposure to a range of industries and companies, primarily in the United States, while also maintaining the flexibility to invest in international markets.

Founded in 1929, Tri-Continental is among the oldest closed-end funds in the United States.

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