Tri-Continental Co. (NYSE:TY) Position Raised by Shaker Financial Services LLC

Shaker Financial Services LLC increased its stake in Tri-Continental Co. (NYSE:TY - Free Report) by 69.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,057 shares of the investment management company's stock after acquiring an additional 66,148 shares during the period. Tri-Continental comprises about 2.0% of Shaker Financial Services LLC's holdings, making the stock its 10th largest holding. Shaker Financial Services LLC owned approximately 0.30% of Tri-Continental worth $5,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Atwood & Palmer Inc. purchased a new position in shares of Tri-Continental in the second quarter valued at about $84,000. Motco bought a new position in Tri-Continental during the 1st quarter valued at approximately $108,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Tri-Continental by 19.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company's stock worth $111,000 after buying an additional 579 shares during the period. US Bancorp DE grew its position in shares of Tri-Continental by 16.4% in the 3rd quarter. US Bancorp DE now owns 5,648 shares of the investment management company's stock worth $187,000 after buying an additional 796 shares during the last quarter. Finally, Choate Investment Advisors purchased a new position in shares of Tri-Continental during the first quarter valued at approximately $213,000. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Trading Up 0.4 %

Shares of TY traded up $0.13 during trading hours on Thursday, reaching $33.89. 30,216 shares of the company traded hands, compared to its average volume of 37,888. Tri-Continental Co. has a 12 month low of $26.20 and a 12 month high of $33.98. The company's fifty day moving average price is $32.76 and its two-hundred day moving average price is $31.54.

Tri-Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were given a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a yield of 3.43%. This is a boost from Tri-Continental's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, September 13th.

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.