JPMorgan Chase & Co. Boosts Stake in Tri-Continental Co. (NYSE:TY)

JPMorgan Chase & Co. boosted its position in Tri-Continental Co. (NYSE:TY - Free Report) by 218.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,160 shares of the investment management company's stock after buying an additional 9,027 shares during the period. JPMorgan Chase & Co.'s holdings in Tri-Continental were worth $435,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Tri-Continental by 19.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company's stock worth $111,000 after buying an additional 579 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Tri-Continental during the second quarter worth $1,852,000. Creative Planning grew its holdings in Tri-Continental by 74.8% in the third quarter. Creative Planning now owns 25,860 shares of the investment management company's stock worth $854,000 after purchasing an additional 11,067 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Tri-Continental by 3.6% in the third 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 in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Tri-Continental by 3,203.9% during the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company's stock valued at $7,031,000 after purchasing an additional 225,264 shares during the period. Institutional investors own 10.22% of the company's stock.

Tri-Continental Price Performance

Shares of TY stock traded up $0.12 on Friday, reaching $32.76. 33,383 shares of the company were exchanged, compared to its average volume of 49,007. Tri-Continental Co. has a one year low of $28.84 and a one year high of $34.82. The company has a 50-day moving average of $32.63 and a 200-day moving average of $32.49.

Tri-Continental Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Monday, December 23rd. Stockholders 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 dividend yield of 3.3%.

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.