First Allied Advisory Services Has Lowered By $538,980 Its Freeport (FCX) Stake; Tri-continental (TY) Has 0.97 Sentiment

September 13, 2017 - By Nellie Frank

Tri-Continental Corporation is a diversified, closed-end management investment company. The company has market cap of $1.41 billion. The Fund’s objective is to produce future growth of both capital and income while providing reasonable current incomes. It has a 5.68 P/E ratio. 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.

First Allied Advisory Services Inc decreased Freeport (FCX) stake by 35.34% reported in 2016Q4 SEC filing. First Allied Advisory Services Inc sold 41,460 shares as Freeport (FCX)’s stock declined 21.33%. The First Allied Advisory Services Inc holds 75,852 shares with $1.00 million value, down from 117,312 last quarter. Freeport now has $20.14 billion valuation. The stock declined 2.73% or $0.39 reaching $13.91 per share. About 14.70M shares traded. Freeport-McMoRan Inc (NYSE:FCX) has risen 6.83% since September 13, 2016 and is uptrending. It has underperformed by 9.87% the S&P500.

Among 22 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 5 have Buy rating, 5 Sell and 12 Hold. Therefore 23% are positive. Freeport-McMoran Copper & Gold had 76 analyst reports since July 28, 2015 according to SRatingsIntel. On Tuesday, August 18 the stock rating was maintained by Morgan Stanley with “Overweight”. Deutsche Bank upgraded Freeport-McMoRan Inc (NYSE:FCX) rating on Tuesday, March 21. Deutsche Bank has “Hold” rating and $14 target. Deutsche Bank downgraded the shares of FCX in report on Tuesday, February 21 to “Sell” rating. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Buy” rating by Jefferies on Monday, July 10. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Mkt Perform” rating by FBR Capital on Thursday, December 10. The firm has “Buy” rating given on Saturday, August 29 by Deutsche Bank. The rating was maintained by Cowen & Co with “Outperform” on Monday, November 21. FBR Capital maintained the shares of FCX in report on Monday, May 1 with “Mkt Perform” rating. The firm earned “Underperform” rating on Monday, October 17 by Bank of America. Stifel Nicolaus maintained the stock with “Hold” rating in Tuesday, August 29 report.

First Allied Advisory Services Inc increased Citrix Sys Inc (NASDAQ:CTXS) stake by 13,836 shares to 16,914 valued at $1.51 million in 2016Q4. It also upped Bank Amer Corp (NYSE:BAC) stake by 37,302 shares and now owns 274,143 shares. Vanguard Index Fds (VTI) was raised too.

Investors sentiment decreased to 1 in 2016 Q4. Its down 0.15, from 1.15 in 2016Q3. It fall, as 61 investors sold FCX shares while 223 reduced holdings. 99 funds opened positions while 175 raised stakes. 995.10 million shares or 5.90% more from 939.67 million shares in 2016Q3 were reported. Us Fincl Bank De reported 216,022 shares. Moreover, Rothschild Inv Il has 0.04% invested in Freeport-McMoRan Inc (NYSE:FCX) for 22,667 shares. Aviva Public Ltd Company reported 0.07% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Moreover, Gradient Investments Limited Co has 0% invested in Freeport-McMoRan Inc (NYSE:FCX) for 2,514 shares. Nationwide Fund Advsr invested in 337,315 shares or 0.02% of the stock. Indexiq Advsr Ltd Limited Liability Company holds 0.02% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 30,858 shares. Rockefeller Fincl Services has invested 0% in Freeport-McMoRan Inc (NYSE:FCX). Aperio Group reported 547,501 shares. Regions Finance Corporation, a Alabama-based fund reported 74,304 shares. Tiaa Cref Invest Mgmt Ltd Liability Corporation has invested 0.07% in Freeport-McMoRan Inc (NYSE:FCX). Cohen Klingenstein Ltd Liability Company stated it has 264,939 shares. Highlander Mngmt Llc owns 500 shares. Mount Vernon Associate Md has invested 0.68% in Freeport-McMoRan Inc (NYSE:FCX). Mcf Ltd Co accumulated 614 shares. Cwm Limited Com owns 4,567 shares or 0% of their US portfolio.

About 16,030 shares traded. Tri-Continental Corporation (TY) has risen 18.43% since September 13, 2016 and is uptrending. It has outperformed by 1.73% the S&P500.

Blue Bell Private Wealth Management Llc holds 8.26% of its portfolio in Tri-Continental Corporation for 615,204 shares. Thomas J. Herzfeld Advisors Inc. owns 222,821 shares or 2.27% of their US portfolio. Moreover, Gramercy Funds Management Llc has 2.16% invested in the company for 190,685 shares. The New York-based Karpus Management Inc. has invested 1.89% in the stock. Bulldog Investors Llc, a New Jersey-based fund reported 313,691 shares.

Since January 1, 0001, it had 1 buy, and 0 insider sales for $228,628 activity.

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