TIAA Trust National Association Purchases New Shares in Tri-Continental Co. (NYSE:TY)

TIAA Trust National Association bought a new stake in Tri-Continental Co. (NYSE:TY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,899 shares of the investment management company's stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also bought and sold shares of TY. Kovitz Investment Group Partners LLC bought a new position in shares of Tri-Continental in the third quarter worth about $7,366,000. Walleye Capital LLC bought a new stake in Tri-Continental during the 3rd quarter worth approximately $269,000. Thrivent Financial for Lutherans lifted its holdings in Tri-Continental by 8.1% during the third quarter. Thrivent Financial for Lutherans now owns 56,128 shares of the investment management company's stock valued at $1,855,000 after purchasing an additional 4,208 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tri-Continental by 218.4% in the third quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company's stock worth $435,000 after purchasing an additional 9,027 shares during the period. Finally, Allworth Financial LP raised its position in shares of Tri-Continental by 3.1% during the 4th quarter. Allworth Financial LP now owns 15,585 shares of the investment management company's stock valued at $509,000 after purchasing an additional 472 shares during the period. 10.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of Tri-Continental stock in a transaction that occurred 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 sale, the director now owns 101 shares of the company's stock, valued at $3,154.23. The trade was a 94.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.66% of the company's stock.

Tri-Continental Stock Up 0.3 %

NYSE TY traded up $0.08 during trading hours on Wednesday, reaching $30.74. The company's stock had a trading volume of 37,181 shares, compared to its average volume of 49,372. Tri-Continental Co. has a 1 year low of $29.17 and a 1 year high of $34.82. The firm's 50-day moving average price is $31.87 and its 200-day moving average price is $32.55.

Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were issued a $0.2766 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.11 dividend on an annualized basis and a yield of 3.60%.

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.