International Assets Investment Management LLC lowered its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 96.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,459 shares of the investment management company's stock after selling 224,836 shares during the period. International Assets Investment Management LLC's holdings in Tri-Continental were worth $233,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in Tri-Continental by 19.3% in the 2nd 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 during the last quarter. Shaker Financial Services LLC boosted its stake in shares of Tri-Continental by 69.7% during the third quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company's stock worth $5,321,000 after buying an additional 66,148 shares during the period. Creative Planning lifted its position in Tri-Continental by 74.8% during the 3rd quarter. Creative Planning now owns 25,860 shares of the investment management company's stock worth $854,000 after acquiring an additional 11,067 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Tri-Continental by 3.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company's stock valued at $14,595,000 after purchasing an additional 15,350 shares during the last quarter. Finally, Cornerstone Advisors LLC raised its stake in shares of Tri-Continental by 18.1% during the second quarter. Cornerstone Advisors LLC now owns 167,382 shares of the investment management company's stock worth $5,184,000 after purchasing an additional 25,646 shares during the last quarter. Hedge funds and other institutional investors own 10.22% of the company's stock.
Tri-Continental Price Performance
Shares of NYSE TY traded up $0.14 during trading on Tuesday, hitting $31.44. 42,174 shares of the company were exchanged, compared to its average volume of 62,409. Tri-Continental Co. has a 1 year low of $28.35 and a 1 year high of $34.82. The firm's fifty day moving average price is $32.98 and its 200 day moving average price is $32.39.
Tri-Continental Cuts Dividend
The company also recently disclosed a -- dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 13th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a yield of 3.3%.
Tri-Continental Company Profile
(
Free Report)
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.
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