129,095 Shares in Tri-Continental Co. (NYSE:TY) Purchased by Cornerstone Advisory LLC

Cornerstone Advisory LLC acquired a new stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 129,095 shares of the investment management company's stock, valued at approximately $4,214,000. Cornerstone Advisory LLC owned approximately 0.24% of Tri-Continental as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in shares of Tri-Continental in the 4th quarter worth approximately $35,000. Anchor Investment Management LLC acquired a new position in shares of Tri-Continental during the 4th quarter valued at $63,000. Comerica Bank increased its position in shares of Tri-Continental by 103.9% during the 4th 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 during the period. Transce3nd LLC acquired a new position in shares of Tri-Continental during the 4th quarter valued at $96,000. Finally, Mezzasalma Advisors LLC acquired a new position in shares of Tri-Continental in the 4th quarter worth $206,000. Institutional investors and hedge funds own 10.22% of the company's stock.

Insider Buying and Selling

In other 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.66% of the company's stock.

Tri-Continental Stock Performance

Shares of NYSE TY traded up $0.46 during mid-day trading on Tuesday, reaching $31.26. The company had a trading volume of 11,023 shares, compared to its average volume of 44,301. The company has a 50-day moving average price of $29.89 and a two-hundred day moving average price of $31.58. Tri-Continental Co. has a 1-year low of $26.54 and a 1-year high of $34.82.

Tri-Continental Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 16th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from Tri-Continental's previous quarterly dividend of $0.28. The ex-dividend date is Monday, June 16th.

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.