Tri-Continental Co. (NYSE:TY) is Bard Financial Services Inc.'s 7th Largest Position

Bard Financial Services Inc. lessened its stake in Tri-Continental Co. (NYSE:TY - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,384 shares of the investment management company's stock after selling 22,029 shares during the period. Tri-Continental makes up approximately 1.8% of Bard Financial Services Inc.'s holdings, making the stock its 7th largest position. Bard Financial Services Inc. owned about 0.86% of Tri-Continental worth $14,748,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position 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 purchasing an additional 579 shares during the last quarter. US Bancorp DE increased its holdings in Tri-Continental by 16.4% during the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company's stock valued at $187,000 after buying an additional 796 shares during the last quarter. Walleye Capital LLC bought a new position in Tri-Continental in the third quarter worth approximately $269,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Tri-Continental during the 2nd quarter worth $327,000. Finally, JPMorgan Chase & Co. grew its position in shares of Tri-Continental by 218.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company's stock valued at $435,000 after acquiring an additional 9,027 shares during the period. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Trading Up 0.5 %

Shares of NYSE:TY traded up $0.17 during midday trading on Monday, hitting $31.78. The company had a trading volume of 39,263 shares, compared to its average volume of 79,654. The company has a fifty day moving average of $33.12 and a two-hundred day moving average of $32.37. Tri-Continental Co. has a 12-month low of $28.29 and a 12-month high of $34.82.

Tri-Continental Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 13th were paid a $0.285 dividend. This represents a dividend 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.