TIAA Trust National Association Invests $377,000 in Tri-Continental Co. (NYSE:TY)

TIAA Trust National Association bought a new stake in Tri-Continental Co. (NYSE:TY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,899 shares of the investment management company’s stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TY. Savant Capital LLC boosted its holdings in Tri-Continental by 1.7% in the 4th quarter. Savant Capital LLC now owns 18,950 shares of the investment management company’s stock worth $601,000 after acquiring an additional 318 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Tri-Continental by 0.4% in the third quarter. D.A. Davidson & CO. now owns 81,380 shares of the investment management company’s stock valued at $2,689,000 after purchasing an additional 360 shares during the period. Allworth Financial LP grew its holdings in Tri-Continental by 3.1% during the 4th quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock valued at $509,000 after purchasing an additional 472 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Tri-Continental by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company’s stock worth $345,000 after buying an additional 507 shares during the period. Finally, Cora Capital Advisors LLC lifted its holdings in Tri-Continental by 5.0% in the 4th quarter. Cora Capital Advisors LLC now owns 11,005 shares of the investment management company’s stock worth $349,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Price Performance

NYSE:TY 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 firm has a 50-day moving average of $31.94 and a two-hundred day moving average of $32.56.

Tri-Continental Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, March 18th. This represents a $1.11 dividend on an annualized basis and a yield of 3.62%.

Insiders Place Their Bets

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.23, for a total transaction of $56,682.45. Following the transaction, 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 legal filing with the SEC, which is available through this link. 8.66% of the stock is owned by company insiders.

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.