Cambridge Investment Research Advisors Inc. Sells 1,145 Shares of Tri Continental Corporation (NYSE:TY)

Cambridge Investment Research Advisors Inc. lessened its holdings in Tri Continental Corporation (NYSE:TY) by 2.2% during the first quarter, Holdings Channel.com reports. The firm owned 51,617 shares of the investment management company’s stock after selling 1,145 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Tri Continental were worth $1,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Tri Continental in the fourth quarter worth $10,315,000. Mesirow Financial Investment Management Inc. bought a new position in Tri Continental in the 4th quarter worth about $386,000. PNC Financial Services Group Inc. boosted its stake in Tri Continental by 115.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after purchasing an additional 4,209 shares in the last quarter. Tower Wealth Partners Inc. grew its position in Tri Continental by 7.0% during the 4th quarter. Tower Wealth Partners Inc. now owns 13,731 shares of the investment management company’s stock valued at $435,000 after purchasing an additional 899 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in Tri Continental by 3.6% during the 4th quarter. Johnson Investment Counsel Inc. now owns 17,430 shares of the investment management company’s stock valued at $552,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 10.22% of the company’s stock.

Tri Continental Stock Up 0.0%

Shares of Tri Continental stock opened at $31.77 on Thursday. The company has a 50-day simple moving average of $30.93 and a two-hundred day simple moving average of $31.12. Tri Continental Corporation has a 52-week low of $26.54 and a 52-week high of $34.82.

Tri Continental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 16th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.16 annualized dividend and a dividend yield of 3.65%. This is an increase from Tri Continental’s previous quarterly dividend of $0.28.

Tri Continental Company 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.