Kovitz Investment Group Partners LLC Decreases Holdings in Tri Continental Corporation $TY

Key Points

• Kovitz Investment Group Partners LLC has reduced its stake in Tri Continental Corporation by **3.8%**, selling **8,096 shares** and now holds **205,747 shares** valued at **$6.31 million**.
• Tri Continental recently increased its quarterly dividend to **$0.29**, up from **$0.28**, resulting in an annualized dividend of **$1.16** and a yield of **3.5%**.
• Various institutional investors, including Wolverine Asset Management and LPL Financial, have adjusted their stakes in Tri Continental, reflecting active trading among significant stakeholders in the firm.

Kovitz Investment Group Partners LLC decreased its holdings in shares of Tri Continental Corporation (NYSE:TY - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 205,747 shares of the investment management company's stock after selling 8,096 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.40% of Tri Continental worth $6,310,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Tri Continental during the 1st quarter valued at approximately $48,000. Comerica Bank grew 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 acquiring an additional 1,300 shares during the period. Transce3nd LLC acquired a new position in shares of Tri Continental during the 4th quarter worth approximately $96,000. Bfsg LLC acquired a new stake in Tri Continental in the 1st quarter valued at $104,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Tri Continental in the 4th quarter worth $212,000. 10.22% of the stock is owned by institutional investors and hedge funds.

Tri Continental Stock Performance

Shares of NYSE TY traded up $0.2850 during midday trading on Friday, hitting $33.3350. The stock had a trading volume of 3,755 shares, compared to its average volume of 48,939. The stock has a 50 day simple moving average of $32.12 and a 200-day simple moving average of $31.25. Tri Continental Corporation has a 1 year low of $26.54 and a 1 year high of $34.82.

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.