Raymond James & Associates cut its holdings in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,440 shares of the investment management company's stock after selling 89,975 shares during the period. Raymond James & Associates owned 0.38% of Tri-Continental worth $6,821,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the business. Atwood & Palmer Inc. bought a new position in Tri-Continental during the second quarter worth about $84,000. Motco acquired a new position in shares of Tri-Continental in the 1st quarter valued at approximately $108,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 purchasing an additional 579 shares in the last quarter. Choate Investment Advisors acquired a new stake in Tri-Continental during the 1st quarter worth approximately $213,000. Finally, 9258 Wealth Management LLC acquired a new stake in Tri-Continental during the 1st quarter worth approximately $213,000. Institutional investors own 10.22% of the company's stock.
Tri-Continental Stock Down 1.0 %
Shares of Tri-Continental stock traded down $0.34 on Thursday, hitting $32.74. The company had a trading volume of 21,453 shares, compared to its average volume of 38,036. Tri-Continental Co. has a twelve month low of $25.33 and a twelve month high of $33.66. The stock has a 50-day moving average of $32.67 and a 200-day moving average of $31.42.
Tri-Continental Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.291 dividend. This is an increase from Tri-Continental's previous quarterly dividend of $0.29. The ex-dividend date was Friday, September 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%.
About Tri-Continental
(
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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