TIAA Trust National Association Makes New Investment in Tri-Continental Co. (NYSE:TY)

TIAA Trust National Association purchased a new stake in Tri-Continental Co. (NYSE:TY) in the fourth quarter, Holdings Channel reports. The firm purchased 11,899 shares of the investment management company’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also made changes to their positions in TY. Raymond James Financial Inc. bought a new position in Tri-Continental in the fourth quarter worth about $10,315,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Tri-Continental in the 3rd quarter worth approximately $7,366,000. Wolverine Asset Management LLC boosted its position in Tri-Continental by 5.2% during the 4th quarter. Wolverine Asset Management LLC now owns 126,932 shares of the investment management company’s stock valued at $4,022,000 after purchasing an additional 6,222 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Tri-Continental by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 126,471 shares of the investment management company’s stock worth $4,179,000 after buying an additional 1,343 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in Tri-Continental in the third quarter worth $3,411,000. 10.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction on 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 transaction, the director now owns 101 shares in the company, valued at approximately $3,154.23. The trade was a 94.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.66% of the stock is owned by insiders.

Tri-Continental Trading Down 1.7 %

TY stock opened at $30.59 on Friday. Tri-Continental Co. has a 1 year low of $29.17 and a 1 year high of $34.82. The stock’s fifty day moving average is $31.94 and its two-hundred day moving average is $32.56.

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 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th.

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.