Hennion & Walsh Asset Management Inc. Has $4.09 Million Stock Position in Tri-Continental Co. (NYSE:TY)

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Tri-Continental Co. (NYSE:TY) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 123,818 shares of the investment management company’s stock after selling 13,955 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Tri-Continental were worth $4,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in Tri-Continental by 3,203.9% in the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock valued at $7,031,000 after purchasing an additional 225,264 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Tri-Continental by 3.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock worth $14,595,000 after buying an additional 15,350 shares during the last quarter. Creative Planning grew its holdings in shares of Tri-Continental by 74.8% in the 3rd quarter. Creative Planning now owns 25,860 shares of the investment management company’s stock valued at $854,000 after acquiring an additional 11,067 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Tri-Continental in the second quarter valued at about $1,852,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Tri-Continental by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock worth $111,000 after acquiring an additional 579 shares in the last quarter. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Stock Performance

TY stock opened at $33.14 on Friday. Tri-Continental Co. has a twelve month low of $25.16 and a twelve month high of $33.66. The business has a 50 day moving average price of $32.55 and a two-hundred day moving average price of $31.32.

Tri-Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a $0.291 dividend. The ex-dividend date was Friday, September 13th. This is a boost from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 3.51%.

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.