Shaker Financial Services LLC Has $2.30 Million Stake in Tri Continental Corporation $TY

Key Points

• Shaker Financial Services LLC boosted its stake in Tri-Continental (NYSE:TY) by 455.5% in Q4, buying 57,763 shares to hold 70,445 shares worth $2.30 million, about 0.14% of the company.
• Other institutions — including Lazard, Blue Bell, Allspring and Raymond James — also increased holdings, leaving total institutional ownership at roughly 10.22%.
• Tri-Continental recently paid a quarterly dividend of $0.2848 (annualized $1.14, yield ~3.3%), and its shares trade near $34.06 with a 52-week range of $27.51–$35.05.

Shaker Financial Services LLC increased its holdings in shares of Tri Continental Corporation (NYSE:TY - Free Report) by 455.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,445 shares of the investment management company's stock after buying an additional 57,763 shares during the period. Shaker Financial Services LLC owned 0.14% of Tri Continental worth $2,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lazard Asset Management LLC raised its stake in shares of Tri Continental by 15.1% during the third quarter. Lazard Asset Management LLC now owns 517,626 shares of the investment management company's stock worth $17,599,000 after buying an additional 67,821 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in Tri Continental by 0.6% in the third quarter. Blue Bell Private Wealth Management LLC now owns 418,033 shares of the investment management company's stock valued at $14,213,000 after purchasing an additional 2,290 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Tri Continental by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 336,196 shares of the investment management company's stock valued at $11,431,000 after purchasing an additional 24,645 shares in the last quarter. Raymond James Financial Inc. increased its stake in Tri Continental by 1.0% in the third quarter. Raymond James Financial Inc. now owns 266,059 shares of the investment management company's stock valued at $9,046,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Uncommon Cents Investing LLC increased its stake in Tri Continental by 0.4% in the fourth quarter. Uncommon Cents Investing LLC now owns 159,856 shares of the investment management company's stock valued at $5,221,000 after purchasing an additional 660 shares in the last quarter. 10.22% of the stock is owned by institutional investors.

Tri Continental Stock Up 1.2%

Shares of NYSE:TY opened at $34.06 on Friday. Tri Continental Corporation has a 52 week low of $27.51 and a 52 week high of $35.05. The company has a 50 day moving average price of $32.56 and a two-hundred day moving average price of $33.25.

Tri Continental Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 17th were paid a $0.2848 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, March 17th.

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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