Commonwealth Equity Services LLC Raises Stock Position in Tri-Continental Co. (NYSE:TY)

Commonwealth Equity Services LLC boosted its holdings in shares of Tri-Continental Co. (NYSE:TY) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,389 shares of the investment management company’s stock after acquiring an additional 2,369 shares during the period. Commonwealth Equity Services LLC’s holdings in Tri-Continental were worth $1,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Mezzasalma Advisors LLC purchased a new position in Tri-Continental in the 4th quarter valued at about $206,000. PNC Financial Services Group Inc. lifted its stake in shares of Tri-Continental by 115.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after purchasing an additional 4,209 shares during the period. Walleye Capital LLC acquired a new stake in shares of Tri-Continental during the third quarter worth $269,000. Crews Bank & Trust purchased a new stake in shares of Tri-Continental in the fourth quarter valued at $270,000. Finally, JSF Financial LLC purchased a new stake in Tri-Continental in the 4th quarter valued at about $310,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Insider Transactions at Tri-Continental

In other news, Director Pamela G. Carlton sold 1,815 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.23, for a total value of $56,682.45. Following the transaction, the director now owns 101 shares of the company’s stock, valued at approximately $3,154.23. This trade represents a 94.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.66% of the company’s stock.

Tri-Continental Trading Down 1.7 %

Shares of TY stock opened at $30.59 on Friday. Tri-Continental Co. has a 1-year low of $29.17 and a 1-year high of $34.82. The firm’s 50-day simple moving average is $31.94 and its 200-day simple moving average is $32.56.

Tri-Continental Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.2766 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.11 annualized dividend and a yield of 3.62%.

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.