Waverly Advisors LLC Purchases Shares of 11,278 Tri-Continental Co. (NYSE:TY)

Waverly Advisors LLC purchased a new position in Tri-Continental Co. (NYSE:TY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,278 shares of the investment management company's stock, valued at approximately $357,000.

A number of other large investors have also recently made changes to their positions in TY. JPMorgan Chase & Co. boosted its holdings in shares of Tri-Continental by 218.4% in the third quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company's stock worth $435,000 after acquiring an additional 9,027 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Tri-Continental by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company's stock worth $345,000 after acquiring an additional 507 shares during the period. Cora Capital Advisors LLC boosted its holdings in shares of Tri-Continental by 5.0% in the fourth quarter. Cora Capital Advisors LLC now owns 11,005 shares of the investment management company's stock worth $349,000 after acquiring an additional 522 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of Tri-Continental by 7.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 11,200 shares of the investment management company's stock worth $355,000 after acquiring an additional 732 shares during the period. Finally, American Institute for Advanced Investment Management LLP boosted its holdings in shares of Tri-Continental by 6.1% in the fourth quarter. American Institute for Advanced Investment Management LLP now owns 11,440 shares of the investment management company's stock worth $363,000 after acquiring an additional 657 shares during the period. 10.22% of the stock is owned by institutional investors.

Insider Activity at Tri-Continental

In related news, Director Pamela G. Carlton sold 1,815 shares of Tri-Continental 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 sale, the director now owns 101 shares of the company's stock, valued at approximately $3,154.23. This trade represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.66% of the stock is owned by corporate insiders.

Tri-Continental Price Performance

NYSE:TY traded up $0.13 during trading hours on Friday, hitting $31.26. 9,329 shares of the company's stock traded hands, compared to its average volume of 44,335. Tri-Continental Co. has a 52 week low of $26.54 and a 52 week high of $34.82. The business's fifty day simple moving average is $29.91 and its two-hundred day simple moving average is $31.56.

Tri-Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 16th will be paid a dividend of $0.29 per share. This is a positive change from Tri-Continental's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.16 annualized dividend and a yield of 3.71%.

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.