Insider Selling: 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 completion of the sale, the portfolio manager owned 12,919 shares of the company’s stock, valued at $450,485.53. This trade represents a 16.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tri Continental Trading Up 0.3%

Shares of NYSE TY opened at $35.28 on Friday. Tri Continental Corporation has a 52 week low of $30.40 and a 52 week high of $35.50. The firm has a 50-day moving average price of $33.45 and a 200 day moving average price of $33.31.

Tri Continental Increases Dividend

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

Hedge Funds Weigh In On Tri Continental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC acquired a new position in Tri Continental during the fourth quarter worth about $29,000. Hanson & Doremus Investment Management acquired a new position in Tri Continental during the first quarter worth about $29,000. BNP Paribas Financial Markets raised its position in Tri Continental by 529.5% during 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 last quarter. Assetmark Inc. acquired a new position in Tri Continental during the fourth quarter worth about $54,000. Finally, Advocate Investing Services LLC acquired a new position in Tri Continental during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

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.