Tri Continental Corporation (NYSE:TY) Position Raised by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its stake in shares of Tri Continental Corporation (NYSE:TY) by 36.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,189 shares of the investment management company’s stock after buying an additional 58,599 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Tri Continental were worth $5,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Tri Continental by 6.2% in the 2nd quarter. Wells Fargo & Company MN now owns 200,033 shares of the investment management company’s stock valued at $4,871,000 after acquiring an additional 11,678 shares in the last quarter. Kelman Lazarov Inc. raised its stake in shares of Tri Continental by 4.7% during the 2nd quarter. Kelman Lazarov Inc. now owns 80,100 shares of the investment management company’s stock worth $1,950,000 after purchasing an additional 3,599 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Tri Continental by 10.6% during the 3rd quarter. First Trust Advisors LP now owns 77,308 shares of the investment management company’s stock worth $1,975,000 after purchasing an additional 7,409 shares in the last quarter. Royal Bank of Canada raised its stake in Tri Continental by 1.0% in the 2nd quarter. Royal Bank of Canada now owns 71,567 shares of the investment management company’s stock valued at $1,743,000 after acquiring an additional 674 shares during the period. Finally, Stifel Financial Corp raised its stake in Tri Continental by 17.0% in the 2nd quarter. Stifel Financial Corp now owns 44,998 shares of the investment management company’s stock valued at $1,094,000 after acquiring an additional 6,533 shares during the period. Institutional investors and hedge funds own 11.97% of the company’s stock.

Shares of Tri Continental Corporation (TY) traded up $0.06 during midday trading on Wednesday, reaching $26.63. The company’s stock had a trading volume of 57,966 shares, compared to its average volume of 69,967. Tri Continental Corporation has a 52-week low of $21.79 and a 52-week high of $26.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be paid a $0.3094 dividend. The ex-dividend date is Wednesday, December 20th. This is a positive change from Tri Continental’s previous quarterly dividend of $0.26. This represents a $1.24 annualized dividend and a yield of 4.65%.

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Tri Continental Profile

Tri-Continental Corporation (the Fund) is a diversified, closed-end management investment company. The Fund’s objective is to produce future growth of both capital and income while providing reasonable current incomes. The Fund’s permissible investments include preferred and common stocks, convertible securities, including convertible preferred stocks and convertible bonds, debt securities, repurchase agreements, derivatives, including options, futures contracts and equity-linked notes, illiquid securities and securities of foreign issuers, including emerging markets issuers.

Institutional Ownership by Quarter for Tri Continental (NYSE:TY)

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