Oppenheimer & Co. Inc. Sells 2,303 Shares of Tri-Continental Co. (NYSE:TY)

Oppenheimer & Co. Inc. decreased its stake in shares of Tri-Continental Co. (NYSE:TY) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,560 shares of the investment management company’s stock after selling 2,303 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tri-Continental were worth $250,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Tri-Continental by 3,203.9% in the 3rd quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock valued at $7,031,000 after acquiring an additional 225,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Tri-Continental by 19.3% during the second 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 in the last quarter. Shaker Financial Services LLC boosted its position 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 valued at $5,321,000 after buying an additional 66,148 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Tri-Continental by 3.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock worth $14,595,000 after buying an additional 15,350 shares in the last quarter. Finally, Creative Planning raised its position in Tri-Continental by 74.8% in the 3rd 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. 10.22% of the stock is owned by institutional investors.

Tri-Continental Stock Performance

TY opened at $33.89 on Friday. The company’s 50-day simple moving average is $33.19 and its two-hundred day simple moving average is $31.86. Tri-Continental Co. has a 52-week low of $27.24 and a 52-week high of $34.30.

Tri-Continental Cuts Dividend

The company also recently declared a — dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.285 per share. The ex-dividend date is Friday, December 13th. This represents a dividend yield of 3.3%.

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.