Tri Continental Corporation $TY Stock Position Increased by Bard Financial Services Inc.

Key Points

• Bard Financial Services Inc. increased its stake in Tri Continental Corporation by 6.1%, owning approximately 0.91% of the company valued at nearly $14.9 million after acquiring additional shares.
• Tri Continental's stock opened at $33.93, experiencing a slight decline, while the company's dividend will be distributed on September 24th at a rate of $0.2654 per share.
• Institutional investors own about 10.22% of Tri Continental, with other hedge funds also increasing their positions during the first and fourth quarters.

Bard Financial Services Inc. boosted its holdings in Tri Continental Corporation (NYSE:TY - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 470,799 shares of the investment management company's stock after purchasing an additional 26,965 shares during the period. Tri Continental comprises 1.8% of Bard Financial Services Inc.'s holdings, making the stock its 8th largest position. Bard Financial Services Inc. owned approximately 0.91% of Tri Continental worth $14,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Costello Asset Management INC purchased a new position in shares of Tri Continental in the 1st quarter worth about $48,000. Comerica Bank boosted its stake in Tri Continental by 103.9% in the fourth quarter. Comerica Bank now owns 2,551 shares of the investment management company's stock valued at $81,000 after acquiring an additional 1,300 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Tri Continental by 49.7% in the first quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company's stock valued at $83,000 after acquiring an additional 877 shares during the last quarter. Bfsg LLC purchased a new position in Tri Continental in the first quarter valued at about $104,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Tri Continental in the fourth quarter valued at about $212,000. Hedge funds and other institutional investors own 10.22% of the company's stock.

Tri Continental Price Performance

Tri Continental stock traded up $0.14 during trading on Friday, hitting $33.96. The stock had a trading volume of 11,148 shares, compared to its average volume of 47,540. Tri Continental Corporation has a 1 year low of $26.54 and a 1 year high of $34.82. The stock's 50 day moving average is $33.04 and its two-hundred day moving average is $31.41.

Tri Continental Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.2654 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 16th.

About Tri Continental

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.