Raymond James Financial Inc. Takes Position in Tri-Continental Co. (NYSE:TY)

Raymond James Financial Inc. acquired a new stake in Tri-Continental Co. (NYSE:TY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 325,495 shares of the investment management company's stock, valued at approximately $10,315,000. Raymond James Financial Inc. owned approximately 0.60% of Tri-Continental as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Mezzasalma Advisors LLC acquired a new stake in Tri-Continental in the fourth quarter valued at approximately $206,000. Walleye Capital LLC acquired a new position in shares of Tri-Continental during the third quarter worth $269,000. Crews Bank & Trust acquired a new position in shares of Tri-Continental during the fourth quarter worth $270,000. JSF Financial LLC acquired a new stake in Tri-Continental in the fourth quarter valued at $310,000. Finally, Apollon Wealth Management LLC increased its holdings in shares of Tri-Continental by 14.0% in the 4th quarter. Apollon Wealth Management LLC now owns 10,255 shares of the investment management company's stock valued at $325,000 after acquiring an additional 1,259 shares during the last quarter. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Trading Up 1.0 %

Shares of NYSE TY traded up $0.31 during mid-day trading on Tuesday, reaching $31.32. The company had a trading volume of 60,010 shares, compared to its average volume of 40,803. The firm has a 50 day simple moving average of $32.01 and a two-hundred day simple moving average of $32.59. Tri-Continental Co. has a 52-week low of $29.17 and a 52-week high of $34.82.

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Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th will be given a $0.2766 dividend. This represents a $1.11 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, March 18th.

Insider Activity

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the sale, the director now owns 101 shares of the company's stock, valued at approximately $3,154.23. This trade represents a 94.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.66% of the company's stock.

Tri-Continental 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.