Northwestern Mutual Wealth Management Co. Acquires 579 Shares of Tri-Continental Co. (NYSE:TY)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Tri-Continental Co. (NYSE:TY) by 19.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,577 shares of the investment management company’s stock after acquiring an additional 579 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Tri-Continental were worth $111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TY. First Merchants Corp bought a new position in shares of Tri-Continental during the second quarter worth about $855,000. Cornerstone Advisors LLC lifted its position in shares of Tri-Continental by 18.1% in the 2nd quarter. Cornerstone Advisors LLC now owns 167,382 shares of the investment management company’s stock worth $5,184,000 after purchasing an additional 25,646 shares during the period. Shaker Financial Services LLC lifted its position in shares of Tri-Continental by 36.6% in the 2nd quarter. Shaker Financial Services LLC now owns 94,909 shares of the investment management company’s stock worth $2,939,000 after purchasing an additional 25,434 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of Tri-Continental by 85.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 53,133 shares of the investment management company’s stock valued at $1,646,000 after purchasing an additional 24,427 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Tri-Continental during the second quarter worth $1,771,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Stock Performance

TY stock opened at $33.37 on Friday. The company’s fifty day simple moving average is $32.08 and its 200 day simple moving average is $31.14. Tri-Continental Co. has a 12-month low of $25.16 and a 12-month high of $33.41.

Tri-Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a $0.291 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, September 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.