Shaker Financial Services LLC grew its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 36.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 94,909 shares of the investment management company's stock after acquiring an additional 25,434 shares during the period. Tri-Continental comprises about 1.2% of Shaker Financial Services LLC's holdings, making the stock its 28th largest holding. Shaker Financial Services LLC owned about 0.18% of Tri-Continental worth $2,939,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Merchants Corp purchased a new position in shares of Tri-Continental during the 2nd quarter worth approximately $855,000. Wolverine Asset Management LLC grew its stake in shares of Tri-Continental by 85.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 53,133 shares of the investment management company's stock worth $1,646,000 after buying an additional 24,427 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Tri-Continental by 6.0% in the 4th quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company's stock worth $7,777,000 after buying an additional 15,351 shares during the last quarter. Baltimore Washington Financial Advisors Inc. bought a new position in Tri-Continental in the 2nd quarter valued at approximately $1,771,000. Finally, Cetera Advisors LLC lifted its position in Tri-Continental by 105.3% in the 1st quarter. Cetera Advisors LLC now owns 16,868 shares of the investment management company's stock valued at $520,000 after acquiring an additional 8,653 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company's stock.
Tri-Continental Stock Performance
TY stock traded up $0.05 during midday trading on Thursday, hitting $31.97. The company's stock had a trading volume of 38,287 shares, compared to its average volume of 39,546. The firm's 50-day moving average is $31.44 and its 200-day moving average is $30.65. Tri-Continental Co. has a 12 month low of $25.16 and a 12 month high of $32.39.
Tri-Continental Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be issued a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. This is a boost from Tri-Continental's previous quarterly dividend of $0.29. The ex-dividend date is Friday, September 13th.
Tri-Continental 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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