RB Capital Management LLC Sells 2,006 Shares of Tri Continental Corporation $TY

RB Capital Management LLC lowered its holdings in Tri Continental Corporation (NYSE:TY) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 60,993 shares of the investment management company’s stock after selling 2,006 shares during the period. RB Capital Management LLC’s holdings in Tri Continental were worth $1,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in Tri Continental during the first quarter worth about $48,000. Comerica Bank grew its stake in Tri Continental by 103.9% during the fourth quarter. Comerica Bank now owns 2,551 shares of the investment management company’s stock worth $81,000 after buying an additional 1,300 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Tri Continental by 49.7% during the first quarter. Jones Financial Companies Lllp now owns 2,643 shares of the investment management company’s stock worth $83,000 after buying an additional 877 shares during the last quarter. Bfsg LLC bought a new stake in Tri Continental during the first quarter worth about $104,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Tri Continental during the fourth quarter worth about $212,000. Institutional investors own 10.22% of the company’s stock.

Tri Continental Stock Down 0.0%

Shares of Tri Continental stock opened at $33.93 on Friday. Tri Continental Corporation has a 1-year low of $26.54 and a 1-year high of $34.82. The firm’s 50-day moving average price is $32.88 and its two-hundred day moving average price is $31.35.

Tri Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.2654 per share. This represents a $1.06 annualized dividend and a 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.