TIAA Trust National Association acquired a new stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,899 shares of the investment management company's stock, valued at approximately $377,000.
Other large investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in shares of Tri-Continental in the fourth quarter worth about $35,000. 1620 Investment Advisors Inc. boosted its position in Tri-Continental by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 89,044 shares of the investment management company's stock worth $2,822,000 after purchasing an additional 645 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tri-Continental by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 58,389 shares of the investment management company's stock worth $1,850,000 after purchasing an additional 2,369 shares during the period. HighTower Advisors LLC increased its holdings in shares of Tri-Continental by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 28,454 shares of the investment management company's stock valued at $902,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Tri-Continental by 3.6% in the 4th quarter. Johnson Investment Counsel Inc. now owns 17,430 shares of the investment management company's stock valued at $552,000 after purchasing an additional 611 shares during the period. 10.22% of the stock is owned by hedge funds and other institutional investors.
Tri-Continental Stock Performance
TY stock remained flat at $30.67 during midday trading on Tuesday. 51,182 shares of the company traded hands, compared to its average volume of 41,066. Tri-Continental Co. has a 52 week low of $29.17 and a 52 week high of $34.82. The company's fifty day moving average is $31.90 and its two-hundred day moving average is $32.56.
Tri-Continental Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.2766 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Tuesday, March 18th.
Insider Activity
In other news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the transaction, the director now owns 101 shares in the company, valued at $3,154.23. This trade represents a 94.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.66% of the company's stock.
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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