Johnson Investment Counsel Inc. Buys 586 Shares of Tri-Continental Co. (NYSE:TY)

Johnson Investment Counsel Inc. grew its stake in Tri-Continental Co. (NYSE:TY) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,815 shares of the investment management company’s stock after acquiring an additional 586 shares during the period. Johnson Investment Counsel Inc.’s holdings in Tri-Continental were worth $521,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Merchants Corp purchased a new stake in Tri-Continental in the second quarter worth about $855,000. Shaker Financial Services LLC lifted its holdings in Tri-Continental by 36.6% during the second quarter. Shaker Financial Services LLC now owns 94,909 shares of the investment management company’s stock worth $2,939,000 after buying an additional 25,434 shares during the period. Wolverine Asset Management LLC boosted its position in Tri-Continental by 85.1% during 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 acquiring an additional 24,427 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Tri-Continental by 6.0% in the 4th quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company’s stock valued at $7,777,000 after acquiring an additional 15,351 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. bought a new position in shares of Tri-Continental in the 2nd quarter worth $1,771,000. 10.22% of the stock is owned by hedge funds and other institutional investors.

Tri-Continental Stock Up 1.1 %

Shares of TY stock opened at $32.16 on Friday. The stock’s 50-day moving average is $31.53 and its 200 day moving average is $30.76. Tri-Continental Co. has a 1-year low of $25.16 and a 1-year high of $32.39.

Tri-Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, September 13th. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29.

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.