HighTower Advisors LLC Buys 1,178 Shares of Tri-Continental Co. (NYSE:TY)

HighTower Advisors LLC boosted its stake in Tri-Continental Co. (NYSE:TY) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,454 shares of the investment management company’s stock after purchasing an additional 1,178 shares during the period. HighTower Advisors LLC owned approximately 0.05% of Tri-Continental worth $902,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Tri-Continental by 8.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 56,128 shares of the investment management company’s stock valued at $1,855,000 after purchasing an additional 4,208 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Tri-Continental by 0.4% during the third quarter. D.A. Davidson & CO. now owns 81,380 shares of the investment management company’s stock valued at $2,689,000 after buying an additional 360 shares during the last quarter. Walleye Capital LLC bought a new position in Tri-Continental in the third quarter worth approximately $269,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Tri-Continental during the 3rd quarter worth $7,366,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Tri-Continental during the 3rd quarter valued at $3,411,000. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Price Performance

NYSE:TY opened at $31.12 on Friday. The stock has a 50-day simple moving average of $31.97 and a two-hundred day simple moving average of $32.57. Tri-Continental Co. has a 52-week low of $29.17 and a 52-week high of $34.82.

Tri-Continental Cuts Dividend

The company also recently announced 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. This represents a $1.11 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Tuesday, March 18th.

Insider Buying and Selling at Tri-Continental

In related news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the sale, the director now owns 101 shares in the company, valued at approximately $3,154.23. This trade represents a 94.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.66% of the company’s stock.

About Tri-Continental

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.