Tri-Continental Co. (TY) Insider Peter Albanese Sells 5,500 Shares

Tri-Continental Co. (NYSE:TY) insider Peter Albanese sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $27.50, for a total transaction of $151,250.00. Following the transaction, the insider now directly owns 9,268 shares of the company’s stock, valued at $254,870. The sale was disclosed in a document filed with the SEC, which is available through this link.

TY stock traded down $0.05 during midday trading on Thursday, hitting $27.56. The stock had a trading volume of 37,189 shares, compared to its average volume of 73,031. Tri-Continental Co. has a 12-month low of $22.63 and a 12-month high of $28.32.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Wednesday, June 20th will be issued a $0.2236 dividend. The ex-dividend date is Tuesday, June 19th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 3.25%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Tri-Continental by 22.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 268,567 shares of the investment management company’s stock valued at $7,235,000 after purchasing an additional 49,378 shares during the last quarter. Uncommon Cents Investing LLC acquired a new position in shares of Tri-Continental in the 4th quarter valued at $532,000. First Trust Advisors LP boosted its holdings in shares of Tri-Continental by 4.4% in the 4th quarter. First Trust Advisors LP now owns 80,687 shares of the investment management company’s stock valued at $2,174,000 after purchasing an additional 3,379 shares during the last quarter. James Hambro & Partners acquired a new position in shares of Tri-Continental in the 4th quarter valued at $162,000. Finally, LPL Financial LLC acquired a new position in shares of Tri-Continental in the 4th quarter valued at $206,000. Institutional investors own 10.89% of the company’s stock.

About Tri-Continental

Tri-Continental Corp. is a diversified, closed-end management investment company. It invests primarily for the longer term and its objective is to produce future growth of both capital and income while providing reasonable current income. The company was founded on January 14, 1929 and is headquartered in Boston, MA.

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