Karpus Management Lowers stake in Tri-Continental Corporation (TY)

Tri-Continental Corporation (TY) : Karpus Management reduced its stake in Tri-Continental Corporation by 0.14% during the most recent quarter end. The investment management company now holds a total of 1,991,969 shares of Tri-Continental Corporation which is valued at $42,787,494 after selling 2,835 shares in Tri-Continental Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Tri-Continental Corporation makes up approximately 1.85% of Karpus Management’s portfolio.

Other Hedge Funds, Including , Relative Value Partners Group reduced its stake in TY by selling 26,273 shares or 1.45% in the most recent quarter. The Hedge Fund company now holds 1,782,268 shares of TY which is valued at $38,283,117. Tri-Continental Corporation makes up approx 4.45% of Relative Value Partners Group’s portfolio.Bronfman E.l. Rothschild boosted its stake in TY in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 2,030 shares of Tri-Continental Corporation which is valued at $43,604. Tri-Continental Corporation makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio. M&r Capital Management Inc added TY to its portfolio by purchasing 290 company shares during the most recent quarter which is valued at $6,229.Msi Financial Services Inc reduced its stake in TY by selling 1,212 shares or 68.4% in the most recent quarter. The Hedge Fund company now holds 560 shares of TY which is valued at $11,945.

Tri-Continental Corporation opened for trading at $21.5 and hit $21.53 on the upside on Thursday, eventually ending the session at $21.49, with a gain of 0.05% or 0.01 points. The heightened volatility saw the trading volume jump to 40,636 shares. Company has a market cap of $2,677 M.

Tri-Continental Corporation (the Fund) is a United States-based diversified closed-end management investment company. The Fund invests to produce future growth of both capital and income while providing reasonable current income. The Fund employs leverage primarily through its outstanding preferred stock. The Fund invests in various sectors which include financials information technology industrials health care and consumer staples. The Fund’s investment manager is Columbia Management Investment Advisers LLC. The Fund’s holdings include Apple Microsoft Cisco Systems Merck & Co JPMorgan Chase & Co Lockheed Martin Corp Philip Morris International Home Depot Pfizer and Oracle among others.

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