Tri-Continental Co. (NYSE:TY) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Tri-Continental Co. (NYSE:TY) by 4.7% in the fourth quarter, Holdings Channel reports. The firm owned 56,749 shares of the investment management company’s stock after buying an additional 2,547 shares during the period. First Trust Advisors LP’s holdings in Tri-Continental were worth $1,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TY. Savant Capital LLC boosted its holdings in Tri-Continental by 1.7% in the fourth 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 in the last quarter. Allworth Financial LP boosted its stake in Tri-Continental by 3.1% in the 4th quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock worth $509,000 after purchasing an additional 472 shares in the last quarter. Janney Montgomery Scott LLC grew its position 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 purchasing an additional 507 shares during the last quarter. Cora Capital Advisors LLC increased its stake in Tri-Continental by 5.0% during the 4th quarter. Cora Capital Advisors LLC now owns 11,005 shares of the investment management company’s stock valued at $349,000 after purchasing an additional 522 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Tri-Continental by 4.9% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 12,097 shares of the investment management company’s stock worth $383,000 after buying an additional 568 shares during the last quarter. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Tri-Continental Price Performance

Shares of TY opened at $30.19 on Tuesday. The company’s fifty day moving average price is $29.96 and its 200-day moving average price is $31.83. Tri-Continental Co. has a 1-year low of $26.54 and a 1-year high of $34.82.

Tri-Continental Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 3.66%.

Insider Activity

In related news, Director Pamela G. Carlton sold 1,815 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.23, for a total value of $56,682.45. Following the sale, the director now owns 101 shares in the company, valued at $3,154.23. This represents a 94.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.66% of the company’s stock.

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.