Altium Capital Management LLC Grows Stock Holdings in Tri Continental Corporation $TY

Altium Capital Management LLC grew its position in shares of Tri Continental Corporation (NYSE:TY) by 95.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 78,920 shares of the investment management company’s stock after buying an additional 38,469 shares during the quarter. Tri Continental comprises about 5.9% of Altium Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Altium Capital Management LLC’s holdings in Tri Continental were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in shares of Tri Continental by 3.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,007 shares of the investment management company’s stock worth $327,000 after purchasing an additional 327 shares during the last quarter. Royal Bank of Canada grew its position in shares of Tri Continental by 0.6% in the 4th quarter. Royal Bank of Canada now owns 57,171 shares of the investment management company’s stock worth $1,867,000 after buying an additional 365 shares during the last quarter. Successful Portfolios LLC increased its stake in shares of Tri Continental by 2.7% during the fourth quarter. Successful Portfolios LLC now owns 15,197 shares of the investment management company’s stock valued at $505,000 after buying an additional 406 shares during the period. International Assets Investment Management LLC increased its stake in shares of Tri Continental by 6.3% during the fourth quarter. International Assets Investment Management LLC now owns 8,126 shares of the investment management company’s stock valued at $265,000 after buying an additional 482 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Tri Continental by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 53,953 shares of the investment management company’s stock valued at $1,762,000 after acquiring an additional 496 shares in the last quarter. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tri Continental

In other news, Portfolio Manager Yan Jin sold 2,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was 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 in the company, valued at approximately $450,485.53. This represents a 16.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.66% of the company’s stock.

Tri Continental Stock Up 0.1%

Shares of NYSE:TY traded up $0.04 during midday trading on Friday, reaching $35.53. The company’s stock had a trading volume of 60,440 shares, compared to its average volume of 37,721. Tri Continental Corporation has a 12-month low of $30.53 and a 12-month high of $36.05. The firm has a 50 day moving average of $34.83 and a 200-day moving average of $33.54.

Tri Continental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.2852 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.28.

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.