12,188 Shares in Tri-Continental Co. (NYSE:TY) Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. acquired a new position in shares of Tri-Continental Co. (NYSE:TY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,188 shares of the investment management company's stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Tri-Continental during the fourth quarter valued at about $10,315,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Tri-Continental in the 3rd quarter worth approximately $7,366,000. Wolverine Asset Management LLC boosted its stake in shares of Tri-Continental by 5.2% in the 4th quarter. Wolverine Asset Management LLC now owns 126,932 shares of the investment management company's stock worth $4,022,000 after buying an additional 6,222 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tri-Continental by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 126,471 shares of the investment management company's stock valued at $4,179,000 after acquiring an additional 1,343 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Tri-Continental during the third quarter valued at approximately $3,411,000. 10.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tri-Continental

In other news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the transaction, the director now directly owns 101 shares of the company's stock, valued at $3,154.23. This represents a 94.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.66% of the stock is owned by company insiders.

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Tri-Continental Stock Up 0.2 %

TY stock traded up $0.08 during midday trading on Wednesday, hitting $30.72. The company's stock had a trading volume of 44,691 shares, compared to its average volume of 41,385. The stock's 50-day moving average price is $32.16 and its 200 day moving average price is $32.68. Tri-Continental Co. has a 1 year low of $29.17 and a 1 year high of $34.82.

Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th will be issued a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Tuesday, March 18th.

Tri-Continental Profile

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.