Gramercy Funds Management Lowers stake in Tri-Continental Corporation (TY)

Tri-Continental Corporation (TY) : Gramercy Funds Management reduced its stake in Tri-Continental Corporation by 2.51% during the most recent quarter end. The investment management company now holds a total of 1,077,514 shares of Tri-Continental Corporation which is valued at $21.5 Million after selling 27,700 shares in Tri-Continental Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Tri-Continental Corporation makes up approximately 6.11% of Gramercy Funds Management’s portfolio.

Other Hedge Funds, Including , Wesbanco Bank Inc reduced its stake in TY by selling 2,270 shares or 14.25% in the most recent quarter. The Hedge Fund company now holds 13,661 shares of TY which is valued at $272,400. Tri-Continental Corporation makes up approx 0.02% of Wesbanco Bank Inc’s portfolio. Monetary Management Group Inc sold out all of its stake in TY during the most recent quarter. The investment firm sold 212 shares of TY which is valued $4,227. Signature Financial Management added TY to its portfolio by purchasing 86,114 company shares during the most recent quarter which is valued at $1.7 Million. Tri-Continental Corporation makes up approx 0.84% of Signature Financial Management’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 2,026 shares of Tri-Continental Corporation which is valued at $40,520. Tri-Continental Corporation makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.Cambridge Investment Research Advisors boosted its stake in TY in the latest quarter, The investment management firm added 2,085 additional shares and now holds a total of 34,837 shares of Tri-Continental Corporation which is valued at $696,740. Tri-Continental Corporation makes up approx 0.02% of Cambridge Investment Research Advisors’s portfolio.

Tri-Continental Corporation opened for trading at $20.02 and hit $20.15 on the upside on Friday, eventually ending the session at $20.07, with a gain of 0.50% or 0.1 points. The heightened volatility saw the trading volume jump to 41,723 shares. Company has a market cap of $2,500 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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