Tri-Continental Co. (NYSE:TY) Holdings Lifted by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. boosted its position in shares of Tri-Continental Co. (NYSE:TY) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,044 shares of the investment management company’s stock after purchasing an additional 645 shares during the period. Tri-Continental accounts for approximately 2.1% of 1620 Investment Advisors Inc.’s portfolio, making the stock its 4th biggest position. 1620 Investment Advisors Inc. owned about 0.17% of Tri-Continental worth $2,822,000 at the end of the most recent reporting period.

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

Tri-Continental Stock Down 0.1 %

Shares of NYSE:TY opened at $30.72 on Friday. Tri-Continental Co. has a fifty-two week low of $29.17 and a fifty-two week high of $34.82. The business has a 50-day moving average of $32.03 and a two-hundred day moving average of $32.60.

Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th will be given a $0.2766 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.60%.

Insiders Place Their Bets

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

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.