Allspring Global Investments Holdings LLC Increases Stock Holdings in Tri Continental Corporation $TY

Allspring Global Investments Holdings LLC increased its stake in Tri Continental Corporation (NYSE:TY) by 9.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 366,014 shares of the investment management company’s stock after acquiring an additional 31,757 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tri Continental were worth $11,562,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new position in Tri Continental during the fourth quarter worth $29,000. Hanson & Doremus Investment Management acquired a new stake in shares of Tri Continental in the first quarter valued at about $29,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 1,059 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Tri Continental during the fourth quarter worth about $54,000. Finally, Advocate Investing Services LLC acquired a new position in shares of Tri Continental during the 4th quarter worth about $54,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tri Continental

In other news, Portfolio Manager Yan Jin sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $34.87, for a total value of $87,175.00. Following the transaction, the portfolio manager owned 12,919 shares in the company, valued at $450,485.53. This trade represents a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.66% of the stock is owned by insiders.

Tri Continental Stock Up 0.1%

Shares of Tri Continental stock opened at $35.19 on Thursday. Tri Continental Corporation has a twelve month low of $30.53 and a twelve month high of $36.05. The firm’s 50-day moving average price is $34.94 and its 200 day moving average price is $33.68.

Tri Continental Increases Dividend

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

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.