First Merchants Corp Acquires New Holdings in Tri-Continental Co. (NYSE:TY)

First Merchants Corp acquired a new position in Tri-Continental Co. (NYSE:TY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,607 shares of the investment management company's stock, valued at approximately $855,000. First Merchants Corp owned approximately 0.05% of Tri-Continental at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wells Fargo & Company MN increased its position in Tri-Continental by 6.0% during the fourth quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company's stock valued at $7,777,000 after acquiring an additional 15,351 shares during the last quarter. Cornerstone Advisors LLC lifted its position in shares of Tri-Continental by 63.7% during the 1st quarter. Cornerstone Advisors LLC now owns 141,736 shares of the investment management company's stock valued at $4,365,000 after buying an additional 55,141 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Tri-Continental by 6.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 137,773 shares of the investment management company's stock valued at $4,267,000 after purchasing an additional 7,759 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Tri-Continental by 1.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 115,813 shares of the investment management company's stock valued at $3,587,000 after purchasing an additional 1,775 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of Tri-Continental by 1.3% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 89,870 shares of the investment management company's stock worth $2,783,000 after acquiring an additional 1,178 shares during the period. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Price Performance

TY stock traded up $0.38 during trading on Friday, hitting $32.06. 35,868 shares of the company's stock were exchanged, compared to its average volume of 53,533. Tri-Continental Co. has a 52-week low of $25.16 and a 52-week high of $32.25. The business has a 50-day moving average price of $31.21 and a two-hundred day moving average price of $30.49.

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.