Hennion & Walsh Asset Management Inc. Boosts Stock Position in Tri Continental Corporation $TY

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Tri Continental Corporation (NYSE:TY) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,776 shares of the investment management company’s stock after buying an additional 26,593 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.24% of Tri Continental worth $4,043,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in Tri Continental by 15.1% in the third quarter. Lazard Asset Management LLC now owns 517,626 shares of the investment management company’s stock worth $17,599,000 after acquiring an additional 67,821 shares in the last quarter. Quadrant Private Wealth Management LLC bought a new position in shares of Tri Continental during the third quarter valued at $1,306,000. Allspring Global Investments Holdings LLC raised its position in shares of Tri Continental by 7.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,196 shares of the investment management company’s stock worth $11,431,000 after purchasing an additional 24,645 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Tri Continental in the 3rd quarter worth about $767,000. Finally, Jane Street Group LLC bought a new position in Tri Continental in the 2nd quarter worth about $450,000. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri Continental Price Performance

Shares of TY stock opened at $30.88 on Tuesday. Tri Continental Corporation has a one year low of $26.54 and a one year high of $35.05. The company’s 50-day moving average is $32.69 and its 200 day moving average is $33.36.

Tri Continental Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 17th were paid a $0.2848 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 17th.

Tri Continental Profile

Tri-Continental Corporation is a diversified closed-end management investment company that seeks to generate long-term total return through a combination of capital appreciation and income. The firm offers investors access to a broad portfolio of securities through a single, actively managed vehicle listed on the New York Stock Exchange under the ticker TY.

The company’s core strategy centers on investing primarily in equity securities of companies located in North America, Europe and the Pacific Basin.