Tri-Continental Co. (NYSE:TY) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of Tri-Continental Co. (NYSE:TY) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned approximately 0.11% of Tri-Continental worth $1,850,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TY. Mezzasalma Advisors LLC purchased a new stake in shares of Tri-Continental during the fourth quarter worth $206,000. PNC Financial Services Group Inc. raised its position in Tri-Continental by 115.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock valued at $249,000 after purchasing an additional 4,209 shares during the last quarter. Walleye Capital LLC acquired a new stake in Tri-Continental during the 3rd quarter worth $269,000. Crews Bank & Trust purchased a new stake in shares of Tri-Continental in the fourth quarter valued at about $270,000. Finally, JSF Financial LLC purchased a new stake in shares of Tri-Continental in the fourth quarter valued at about $310,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Price Performance

NYSE TY opened at $30.59 on Friday. The business’s 50-day moving average price is $31.94 and its 200 day moving average price is $32.56. Tri-Continental Co. has a 52-week low of $29.17 and a 52-week high of $34.82.

Tri-Continental Cuts Dividend

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

Insider Activity

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

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.