Platform Technology Partners Acquires 39,819 Shares of Tri-Continental Co. (NYSE:TY)

Platform Technology Partners increased its stake in Tri-Continental Co. (NYSE:TY - Free Report) by 69.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,531 shares of the investment management company's stock after purchasing an additional 39,819 shares during the quarter. Tri-Continental makes up 0.9% of Platform Technology Partners' investment portfolio, making the stock its 23rd largest holding. Platform Technology Partners owned about 0.18% of Tri-Continental worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 579 shares during the last quarter. US Bancorp DE lifted its stake in Tri-Continental by 16.4% in the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company's stock valued at $187,000 after acquiring an additional 796 shares during the last quarter. Walleye Capital LLC bought a new stake in Tri-Continental in the third quarter worth approximately $269,000. Crews Bank & Trust acquired a new position in shares of Tri-Continental during the 4th quarter worth $270,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Tri-Continental by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company's stock worth $345,000 after purchasing an additional 507 shares during the last quarter. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Trading Up 0.3 %

Tri-Continental stock traded up $0.10 during mid-day trading on Tuesday, hitting $32.48. 92,321 shares of the company's stock were exchanged, compared to its average volume of 53,975. Tri-Continental Co. has a 1-year low of $29.01 and a 1-year high of $34.82. The stock has a 50 day moving average of $32.39 and a two-hundred day moving average of $32.56.

Tri-Continental Cuts Dividend

The company also recently announced a -- dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 13th were given a dividend of $0.285 per share. This represents a yield of 3.3%. The ex-dividend date was Friday, December 13th.

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.