Platform Technology Partners Trims Stock Position in Tri Continental Corporation (NYSE:TY)

Platform Technology Partners lessened its holdings in Tri Continental Corporation (NYSE:TY - Free Report) by 36.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,500 shares of the investment management company's stock after selling 36,031 shares during the period. Platform Technology Partners owned 0.11% of Tri Continental worth $1,886,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Tri Continental by 3.5% in the fourth quarter. Ameriprise Financial Inc. now owns 11,849 shares of the investment management company's stock worth $375,000 after purchasing an additional 402 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Tri Continental by 22.7% in the fourth quarter. Cetera Investment Advisers now owns 25,483 shares of the investment management company's stock worth $808,000 after purchasing an additional 4,717 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Tri Continental by 5.6% in the fourth quarter. Bank of America Corp DE now owns 46,149 shares of the investment management company's stock worth $1,462,000 after purchasing an additional 2,464 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Tri Continental by 26.4% in the first quarter. Oppenheimer & Co. Inc. now owns 9,788 shares of the investment management company's stock worth $300,000 after purchasing an additional 2,043 shares during the last quarter. Finally, MSH Capital Advisors LLC bought a new stake in shares of Tri Continental in the fourth quarter worth about $348,000. Hedge funds and other institutional investors own 10.22% of the company's stock.

Tri Continental Price Performance

NYSE TY traded down $0.08 during mid-day trading on Tuesday, reaching $31.89. The stock had a trading volume of 26,222 shares, compared to its average volume of 45,228. The company has a fifty day moving average price of $31.24 and a 200 day moving average price of $31.12. Tri Continental Corporation has a 1 year low of $26.54 and a 1 year high of $34.82.

Tri Continental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 16th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. This is a positive change from Tri Continental's previous quarterly dividend of $0.28. The ex-dividend date was Monday, June 16th.

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.