Tri-Continental Co. (NYSE:TY) Director Pamela G. Carlton Sells 1,815 Shares

Tri-Continental Co. (NYSE:TY) Director Pamela G. Carlton sold 1,815 shares of Tri-Continental stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the sale, the director now directly owns 101 shares in the company, valued at $3,154.23. This represents a 94.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Tri-Continental Price Performance

TY opened at $30.72 on Wednesday. Tri-Continental Co. has a 1 year low of $29.17 and a 1 year high of $34.82. The business’s 50-day moving average price is $32.16 and its two-hundred day moving average price is $32.68.

Tri-Continental Cuts Dividend

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

Institutional Investors Weigh In On Tri-Continental

Hedge funds and other institutional investors have recently made changes to their positions in the business. CoreFirst Bank & Trust acquired a new stake in shares of Tri-Continental in the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new position in Tri-Continental during the fourth quarter valued at approximately $63,000. Comerica Bank raised its position in Tri-Continental by 103.9% during the fourth quarter. Comerica Bank now owns 2,551 shares of the investment management company’s stock valued at $81,000 after purchasing an additional 1,300 shares in the last quarter. Transce3nd LLC acquired a new position in Tri-Continental during the fourth quarter valued at approximately $96,000. Finally, US Bancorp DE raised its position in Tri-Continental by 16.4% during the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock valued at $187,000 after purchasing an additional 796 shares in the last quarter. 10.22% of the stock is currently owned by institutional investors and hedge funds.

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.