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 dated Tuesday, June 12th. The shares were sold at an average price of $27.50, for a total transaction of $151,250.00. Following the completion of the sale, the insider now owns 9,268 shares of the company’s stock, valued at approximately $254,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:TY traded down $0.05 during mid-day trading on Thursday, reaching $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 twelve month low of $22.63 and a twelve month high of $28.32.

The business also recently announced 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 of this dividend is Tuesday, June 19th. This represents a $0.89 dividend on an annualized basis and a yield of 3.25%.



A number of institutional investors have recently modified their holdings of TY. Evermay Wealth Management LLC purchased a new position in Tri-Continental in the fourth quarter valued at about $200,000. First Trust Advisors LP increased its stake in shares of Tri-Continental by 4.4% during the 4th quarter. First Trust Advisors LP now owns 80,687 shares of the investment management company’s stock worth $2,174,000 after purchasing an additional 3,379 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Tri-Continental by 22.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 268,567 shares of the investment management company’s stock worth $7,235,000 after purchasing an additional 49,378 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Tri-Continental during the 4th quarter worth approximately $237,000. Finally, Uncommon Cents Investing LLC purchased a new position in shares of Tri-Continental during the 4th quarter worth approximately $532,000. 10.89% of the stock is owned by institutional investors.

Tri-Continental Company Profile

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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