Tri-Continental Co. (TY) To Go Ex-Dividend on June 16th

Tri-Continental Co. (NYSE:TY) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Monday, June 16th will be given a dividend of 0.29 per share by the investment management company on Wednesday, June 25th. This represents a $1.16 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Monday, June 16th. This is a 4.8% increase from Tri-Continental’s previous quarterly dividend of $0.28.

Tri-Continental Price Performance

Shares of TY opened at $31.48 on Friday. Tri-Continental has a 1 year low of $26.54 and a 1 year high of $34.82. The firm has a fifty day moving average of $30.27 and a 200-day moving average of $31.39.

Hedge Funds Weigh In On Tri-Continental

A hedge fund recently raised its stake in Tri-Continental stock. Jones Financial Companies Lllp grew its position in shares of Tri-Continental Co. (NYSE:TY) by 49.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,643 shares of the investment management company’s stock after acquiring an additional 877 shares during the quarter. Jones Financial Companies Lllp’s holdings in Tri-Continental were worth $83,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 10.22% of the company’s stock.

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.