Tri Continental (NYSE:TY) Portfolio Manager Yan Jin Sells 2,500 Shares

Tri Continental Corporation (NYSE:TY) Portfolio Manager Yan Jin sold 2,500 shares of Tri Continental stock in a transaction on 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 represents a 16.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tri Continental Stock Performance

Shares of TY stock opened at $35.16 on Friday. The firm has a fifty day simple moving average of $33.38 and a two-hundred day simple moving average of $33.30. Tri Continental Corporation has a 12 month low of $30.40 and a 12 month high of $35.47.

Tri Continental Increases Dividend

The firm also recently declared 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. This is a boost from Tri Continental’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%.

Institutional Trading of Tri Continental

A number of hedge funds and other institutional investors have recently bought and sold shares of TY. Royal Bank of Canada increased its stake in Tri Continental by 30.9% during the 1st quarter. Royal Bank of Canada now owns 56,484 shares of the investment management company’s stock valued at $1,732,000 after purchasing an additional 13,321 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Tri Continental by 49.7% during the 1st quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company’s stock valued at $83,000 after purchasing an additional 877 shares in the last quarter. Guggenheim Capital LLC increased its stake in Tri Continental by 21.5% during the 2nd quarter. Guggenheim Capital LLC now owns 28,819 shares of the investment management company’s stock valued at $912,000 after purchasing an additional 5,090 shares in the last quarter. First Trust Advisors LP increased its stake in Tri Continental by 3.2% during the 2nd quarter. First Trust Advisors LP now owns 62,617 shares of the investment management company’s stock valued at $1,982,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in Tri Continental during the 2nd quarter valued at $220,000. Institutional investors 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.