MSH Capital Advisors LLC bought a new stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,970 shares of the investment management company's stock, valued at approximately $348,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new stake in Tri-Continental during the 4th quarter worth $35,000. Anchor Investment Management LLC bought a new position in Tri-Continental during the 4th quarter worth $63,000. Mezzasalma Advisors LLC bought a new stake in Tri-Continental in the 4th quarter valued at about $206,000. PNC Financial Services Group Inc. raised its holdings in shares of Tri-Continental by 115.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company's stock valued at $249,000 after buying an additional 4,209 shares during the last quarter. Finally, Level Four Advisory Services LLC acquired a new position in Tri-Continental during the 4th quarter worth $259,000. Institutional investors and hedge funds own 10.22% of the company's stock.
Tri-Continental Stock Performance
Shares of NYSE:TY traded up $0.24 during trading hours on Friday, hitting $28.51. 40,881 shares of the company's stock traded hands, compared to its average volume of 42,758. The company's fifty day simple moving average is $30.67 and its two-hundred day simple moving average is $32.13. Tri-Continental Co. has a 52 week low of $26.54 and a 52 week high of $34.82.
Tri-Continental Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were given a $0.2766 dividend. This represents a $1.11 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Tuesday, March 18th.
Insider Transactions at Tri-Continental
In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.66% of the company's stock.
Tri-Continental Company Profile
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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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