Wolverine Asset Management LLC Boosts Stock Holdings in Tri-Continental Co. (NYSE:TY)

Wolverine Asset Management LLC increased its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 127.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,710 shares of the investment management company's stock after acquiring an additional 67,577 shares during the period. Wolverine Asset Management LLC owned about 0.22% of Tri-Continental worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Tri-Continental by 3,203.9% in the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company's stock worth $7,031,000 after acquiring an additional 225,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $111,000 after purchasing an additional 579 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Tri-Continental by 3.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company's stock valued at $14,595,000 after buying an additional 15,350 shares in the last quarter. Creative Planning grew its stake in shares of Tri-Continental by 74.8% during the third quarter. Creative Planning now owns 25,860 shares of the investment management company's stock worth $854,000 after buying an additional 11,067 shares during the last quarter. Finally, Shaker Financial Services LLC increased its holdings in shares of Tri-Continental by 69.7% during the third quarter. Shaker Financial Services LLC now owns 161,057 shares of the investment management company's stock worth $5,321,000 after buying an additional 66,148 shares in the last quarter. 10.22% of the stock is owned by institutional investors.

Tri-Continental Price Performance

Shares of NYSE TY remained flat at $34.10 during mid-day trading on Monday. The company had a trading volume of 26,437 shares, compared to its average volume of 37,849. Tri-Continental Co. has a 12 month low of $26.54 and a 12 month high of $34.30. The firm's fifty day simple moving average is $32.83 and its 200 day simple moving average is $31.61.

Tri-Continental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.291 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change 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.