Bard Financial Services Inc. Reduces Stake in Tri Continental Corporation $TY

Bard Financial Services Inc. cut its stake in shares of Tri Continental Corporation (NYSE:TY) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 444,956 shares of the investment management company’s stock after selling 25,843 shares during the period. Tri Continental accounts for about 1.7% of Bard Financial Services Inc.’s investment portfolio, making the stock its 10th biggest holding. Bard Financial Services Inc.’s holdings in Tri Continental were worth $15,128,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Tri Continental during the second quarter worth $39,000. BNP Paribas Financial Markets raised its holdings in shares of Tri Continental by 529.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,259 shares of the investment management company’s stock valued at $40,000 after purchasing an additional 1,059 shares during the period. Jones Financial Companies Lllp lifted its stake in Tri Continental by 49.7% in 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 during the last quarter. CWM LLC grew its holdings in Tri Continental by 83.9% during the third quarter. CWM LLC now owns 3,285 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,499 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in Tri Continental during the second quarter worth approximately $127,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri Continental Stock Performance

NYSE:TY opened at $32.71 on Friday. The stock’s 50 day moving average price is $33.86 and its two-hundred day moving average price is $33.21. Tri Continental Corporation has a 12-month low of $26.54 and a 12-month high of $35.05.

Tri Continental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 12th were issued a dividend of $2.3154 per share. This represents a $9.26 annualized dividend and a dividend yield of 28.3%. The ex-dividend date of this dividend was Friday, December 12th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.27.

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.