International Assets Investment Management LLC raised its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 3,203.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,295 shares of the investment management company's stock after acquiring an additional 225,264 shares during the period. International Assets Investment Management LLC owned approximately 0.43% of Tri-Continental worth $7,031,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in shares of Tri-Continental in the second quarter valued at approximately $84,000. Motco acquired a new position in Tri-Continental in the 1st quarter valued at $108,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 valued at $111,000 after acquiring an additional 579 shares during the period. Choate Investment Advisors acquired a new stake in shares of Tri-Continental during the 1st quarter worth $213,000. Finally, 9258 Wealth Management LLC bought a new position in shares of Tri-Continental in the first quarter worth $213,000. Institutional investors and hedge funds own 10.22% of the company's stock.
Tri-Continental Stock Performance
Tri-Continental stock traded up $0.14 during midday trading on Friday, reaching $32.88. The company's stock had a trading volume of 31,566 shares, compared to its average volume of 38,005. Tri-Continental Co. has a 52 week low of $26.09 and a 52 week high of $33.66. The business has a 50-day moving average price of $32.67 and a 200-day moving average price of $31.42.
Tri-Continental Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were given a $0.291 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. This is an increase from Tri-Continental's previous quarterly dividend of $0.29.
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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