Wolverine Asset Management LLC Purchases 24,427 Shares of Tri-Continental Co. (NYSE:TY)

Wolverine Asset Management LLC lifted its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 85.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,133 shares of the investment management company's stock after acquiring an additional 24,427 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.10% of Tri-Continental worth $1,646,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TY. Atwood & Palmer Inc. bought a new position in Tri-Continental in the second quarter valued at approximately $84,000. Motco bought a new stake in Tri-Continental in the first quarter valued at about $108,000. YHB Investment Advisors Inc. acquired a new position in Tri-Continental in the first quarter valued at about $158,000. EP Wealth Advisors LLC acquired a new position in Tri-Continental in the fourth quarter valued at about $212,000. Finally, Choate Investment Advisors bought a new position in Tri-Continental during the first quarter worth about $213,000. Institutional investors and hedge funds own 10.22% of the company's stock.

Tri-Continental Trading Up 0.5 %

TY traded up $0.15 during mid-day trading on Wednesday, hitting $31.92. The stock had a trading volume of 33,196 shares, compared to its average volume of 39,554. The stock's fifty day simple moving average is $31.41 and its 200-day simple moving average is $30.64. Tri-Continental Co. has a 1-year low of $25.16 and a 1-year high of $32.39.

Tri-Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a $0.291 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Tri-Continental's previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 3.65%.

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.