Tri Continental Corporation $TY Shares Acquired 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. lifted its stake in shares of Tri Continental Corporation (NYSE:TY - Free Report) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,799 shares of the investment management company's stock after buying an additional 26,965 shares during the quarter. Tri Continental makes up about 1.8% of Bard Financial Services Inc.'s investment portfolio, making the stock its 8th largest holding. Bard Financial Services Inc. owned approximately 0.91% of Tri Continental worth $14,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Costello Asset Management INC acquired a new position in Tri Continental in the first quarter worth $48,000. Comerica Bank boosted its holdings in Tri Continental by 103.9% in the fourth quarter. Comerica Bank now owns 2,551 shares of the investment management company's stock worth $81,000 after purchasing an additional 1,300 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 worth $83,000 after purchasing an additional 877 shares during the period. Bfsg LLC acquired a new position in Tri Continental in the first quarter worth $104,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Tri Continental in the fourth quarter worth $212,000. Institutional investors and hedge funds own 10.22% of the company's stock.

Tri Continental Stock Down 0.0%

Tri Continental stock opened at $33.93 on Monday. The company has a fifty day moving average price of $32.88 and a two-hundred day moving average price of $31.35. Tri Continental Corporation has a 12 month low of $26.54 and a 12 month high of $34.82.

Tri Continental Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 16th will be issued a $0.2654 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 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.

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