Tri Continental Corporation (NYSE:TY) Plans Quarterly Dividend of $0.30

Key Points

• Tri Continental declared a quarterly dividend of $0.2962 per share, up 3.9% from $0.29, implying a 3.4% annualized yield. Shareholders of record on September 14 are scheduled to receive payment on September 22.
• Tri Continental shares opened at $34.97, compared with a 52-week range of $30.53 to $36.55; the stock’s 50-day and 200-day moving averages were $35.36 and $34.27, respectively.
• Institutional investors increased their positions, including Royal Bank of Canada, Jones Financial Companies and Guggenheim Capital; institutions and hedge funds collectively own 10.22% of the stock.

Tri Continental Corporation (NYSE:TY - Get Free Report) declared a quarterly dividend on Friday, September 4th. Shareholders of record on Monday, September 14th will be given a dividend of 0.2962 per share by the investment management company on Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 14th. This is a 3.9% increase from Tri Continental's previous quarterly dividend of $0.29.

Tri Continental Price Performance

NYSE TY opened at $34.97 on Friday. The company has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $34.27. Tri Continental has a 52-week low of $30.53 and a 52-week high of $36.55.

Institutional Investors Weigh In On Tri Continental

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Tri Continental by 30.9% in the first quarter. Royal Bank of Canada now owns 56,484 shares of the investment management company's stock worth $1,732,000 after purchasing an additional 13,321 shares in the last quarter. Jones Financial Companies Lllp grew its holdings 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 buying an additional 877 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Tri Continental by 21.5% in the second quarter. Guggenheim Capital LLC now owns 28,819 shares of the investment management company's stock worth $912,000 after acquiring an additional 5,090 shares during the last quarter. First Trust Advisors LP raised its position in shares of Tri Continental by 3.2% during the second quarter. First Trust Advisors LP now owns 62,617 shares of the investment management company's stock valued at $1,982,000 after buying an additional 1,914 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Tri Continental in the 2nd quarter worth approximately $220,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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