Joel Isaacson & Co. LLC Invests $567,000 in Tri Continental Corporation (NYSE:TY)

Joel Isaacson & Co. LLC acquired a new position in Tri Continental Corporation (NYSE:TY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,481 shares of the investment management company's stock, valued at approximately $567,000.

Several other institutional investors have also added to or reduced their stakes in TY. Allspring Global Investments Holdings LLC grew its holdings in Tri Continental by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 276,551 shares of the investment management company's stock worth $8,482,000 after acquiring an additional 3,539 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Tri Continental by 26.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,788 shares of the investment management company's stock valued at $300,000 after acquiring an additional 2,043 shares in the last quarter. Bfsg LLC bought a new position in Tri Continental during the first quarter worth $104,000. Mascagni Wealth Management Inc. acquired a new stake in Tri Continental in the fourth quarter worth $212,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tri Continental by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 128,651 shares of the investment management company's stock valued at $4,077,000 after purchasing an additional 3,523 shares during the period. 10.22% of the stock is currently owned by institutional investors.

Tri Continental Stock Performance

Shares of TY traded up $0.25 during trading hours on Thursday, hitting $32.04. The stock had a trading volume of 31,603 shares, compared to its average volume of 45,361. The firm has a 50 day simple moving average of $30.93 and a 200-day simple moving average of $31.12. Tri Continental Corporation has a 1-year low of $26.54 and a 1-year high of $34.82.

Tri Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 16th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.62%. This is a positive change from Tri Continental's previous quarterly dividend of $0.28. The ex-dividend date was Monday, June 16th.

Tri Continental Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.