Delta Capital Management LLC Sells 10,000 Shares of Tri-Continental Co. (NYSE:TY)

Delta Capital Management LLC cut its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 42.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,342 shares of the investment management company's stock after selling 10,000 shares during the quarter. Delta Capital Management LLC's holdings in Tri-Continental were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Tri-Continental by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company's stock valued at $111,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE increased its position in Tri-Continental by 16.4% during the 3rd quarter. US Bancorp DE now owns 5,648 shares of the investment management company's stock valued at $187,000 after buying an additional 796 shares in the last quarter. Walleye Capital LLC purchased a new position in Tri-Continental during the third quarter valued at $269,000. Mercer Global Advisors Inc. ADV bought a new stake in Tri-Continental in the second quarter worth $327,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Tri-Continental by 218.4% in the third quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company's stock worth $435,000 after acquiring an additional 9,027 shares during the last quarter. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Price Performance

Shares of NYSE:TY traded up $0.31 on Monday, hitting $32.35. 36,910 shares of the company traded hands, compared to its average volume of 51,240. The stock has a 50 day simple moving average of $32.84 and a 200-day simple moving average of $32.42. Tri-Continental Co. has a 52 week low of $28.39 and a 52 week high of $34.82.

Tri-Continental Cuts Dividend

The company also recently announced a -- dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 13th were issued a $0.285 dividend. The ex-dividend date was Friday, December 13th. This represents a yield of 3.3%.

Tri-Continental Company 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.