Altium Capital Management LLC Purchases 38,469 Shares of Tri Continental Corporation $TY

Key Points

• Altium Capital Management increased its Tri Continental position by 95.1% in Q1, buying 38,469 additional shares and bringing its holdings to 78,920 shares worth about $2.49 million.
• Several other institutional investors also added to or initiated positions in Tri Continental, and institutions now own 10.22% of the company’s stock.
• Tri Continental recently raised its quarterly dividend to $0.2852 per share, putting the annualized payout at $1.14 for a 3.2% yield; shares last traded at $35.53, near the stock’s 52-week high.

Altium Capital Management LLC grew its position in shares of Tri Continental Corporation (NYSE:TY - Free Report) by 95.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,920 shares of the investment management company's stock after purchasing an additional 38,469 shares during the period. Tri Continental makes up 5.9% of Altium Capital Management LLC's portfolio, making the stock its 11th biggest holding. Altium Capital Management LLC owned about 0.15% of Tri Continental worth $2,493,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TY. North Star Investment Management Corp. purchased a new stake in shares of Tri Continental in the first quarter worth $94,000. Hanson & Doremus Investment Management purchased a new position in Tri Continental during the first quarter worth about $29,000. Uhlmann Price Securities LLC purchased a new position in Tri Continental during the first quarter worth about $170,000. Bayban bought a new position in Tri Continental in the 4th quarter worth about $75,000. Finally, EP Wealth Advisors LLC bought a new position in Tri Continental in the 4th quarter worth about $2,878,000. Institutional investors own 10.22% of the company's stock.

Insiders Place Their Bets

In other Tri Continental news, Portfolio Manager Yan Jin sold 2,500 shares of Tri Continental stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 directly owned 12,919 shares in the company, valued at $450,485.53. The trade was a 16.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.66% of the stock is owned by corporate insiders.

Tri Continental Stock Performance

Shares of NYSE:TY traded up $0.04 on Friday, hitting $35.53. The company's stock had a trading volume of 60,440 shares, compared to its average volume of 37,721. The company has a 50-day simple moving average of $34.83 and a 200 day simple moving average of $33.54. Tri Continental Corporation has a 1 year low of $30.53 and a 1 year high of $36.05.

Tri Continental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 16th were paid a $0.2852 dividend. 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 yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th.

Tri Continental 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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