Allspring Global Investments Holdings LLC Buys 31,757 Shares of Tri Continental Corporation $TY

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Tri Continental by 9.5% in the first quarter, buying 31,757 additional shares for a total holding of 366,014 shares worth about $11.56 million.
• Several other institutional investors also raised their positions, and institutional ownership of Tri Continental now stands at 10.22%.
• Tri Continental recently raised its quarterly dividend to $0.2852 per share, or $1.14 annualized, for a yield of about 3.2%.

Allspring Global Investments Holdings LLC grew its stake in Tri Continental Corporation (NYSE:TY - Free Report) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 owned about 0.69% of Tri Continental worth $11,562,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Altium Capital Management LLC raised its holdings in Tri Continental by 95.1% in the first quarter. Altium Capital Management LLC now owns 78,920 shares of the investment management company's stock worth $2,493,000 after purchasing an additional 38,469 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Tri Continental by 27.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 123,776 shares of the investment management company's stock valued at $4,043,000 after buying an additional 26,593 shares in the last quarter. Shaker Financial Services LLC boosted its holdings in shares of Tri Continental by 455.5% in the 4th quarter. Shaker Financial Services LLC now owns 70,445 shares of the investment management company's stock valued at $2,301,000 after buying an additional 57,763 shares in the last quarter. Stolper Co grew its position in shares of Tri Continental by 5.7% in the 4th quarter. Stolper Co now owns 61,655 shares of the investment management company's stock worth $2,014,000 after buying an additional 3,309 shares during the last quarter. Finally, CWM LLC grew its position in shares of Tri Continental by 95.5% in the 4th quarter. CWM LLC now owns 6,421 shares of the investment management company's stock worth $210,000 after buying an additional 3,136 shares during the last quarter. 10.22% of the stock is owned by institutional investors.

Tri Continental Price Performance

NYSE:TY opened at $35.19 on Thursday. Tri Continental Corporation has a 52 week low of $30.53 and a 52 week high of $36.05. The firm has a 50 day moving average of $34.94 and a 200 day moving average of $33.68.

Tri Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.2852 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. This is a boost from Tri Continental's previous quarterly dividend of $0.28.

Insider Buying and Selling at Tri Continental

In related news, Portfolio Manager Yan Jin sold 2,500 shares of the business's 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 transaction, the portfolio manager directly owned 12,919 shares in the company, valued at $450,485.53. The trade was a 16.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.66% of the stock is owned by insiders.

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.

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