Level Four Advisory Services LLC Takes $259,000 Position in Tri-Continental Co. (NYSE:TY)

Level Four Advisory Services LLC acquired a new stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,177 shares of the investment management company's stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Tri-Continental in the fourth quarter valued at $10,315,000. Kovitz Investment Group Partners LLC bought a new stake in Tri-Continental in the 3rd quarter valued at about $7,366,000. EP Wealth Advisors LLC acquired a new position in Tri-Continental during the 3rd quarter valued at about $3,411,000. Platform Technology Partners boosted its stake in Tri-Continental by 69.0% during the 4th quarter. Platform Technology Partners now owns 97,531 shares of the investment management company's stock valued at $3,091,000 after purchasing an additional 39,819 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in Tri-Continental by 95.3% in the 4th quarter. Concurrent Investment Advisors LLC now owns 59,871 shares of the investment management company's stock worth $1,897,000 after purchasing an additional 29,212 shares during the last quarter. Institutional investors and hedge funds own 10.22% of the company's stock.

Insider Buying and Selling at Tri-Continental

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

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Tri-Continental Stock Performance

Shares of TY traded down $1.19 during mid-day trading on Thursday, reaching $29.61. 53,569 shares of the company's stock traded hands, compared to its average volume of 41,376. The business's 50-day moving average price is $31.77 and its 200-day moving average price is $32.52. Tri-Continental Co. has a 12 month low of $29.17 and a 12 month high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.2766 per share. This represents a $1.11 annualized dividend and a yield of 3.74%. The ex-dividend date was Tuesday, March 18th.

About Tri-Continental

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.