Tri-Continental Co. (NYSE:TY) Shares Sold by Northern Trust Corp

Northern Trust Corp lessened its position in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 59.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,823 shares of the investment management company's stock after selling 15,855 shares during the quarter. Northern Trust Corp's holdings in Tri-Continental were worth $343,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MSH Capital Advisors LLC acquired a new position in shares of Tri-Continental in the 4th quarter valued at about $348,000. Allworth Financial LP lifted its holdings in shares of Tri-Continental by 3.1% in the 4th quarter. Allworth Financial LP now owns 15,585 shares of the investment management company's stock valued at $509,000 after buying an additional 472 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Tri-Continental by 4.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 58,389 shares of the investment management company's stock valued at $1,850,000 after buying an additional 2,369 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Tri-Continental by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 68,080 shares of the investment management company's stock valued at $2,222,000 after buying an additional 5,076 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Tri-Continental by 115.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company's stock valued at $249,000 after buying an additional 4,209 shares during the period. Hedge funds and other institutional investors own 10.22% of the company's stock.

Insider Buying and Selling

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction that occurred 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 transaction, the director now owns 101 shares of the company's stock, valued at $3,154.23. This represents a 94.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.66% of the stock is currently owned by insiders.

Tri-Continental Stock Performance

NYSE TY traded up $0.13 during trading hours on Thursday, reaching $31.54. The company's stock had a trading volume of 32,154 shares, compared to its average volume of 44,678. Tri-Continental Co. has a 1-year low of $26.54 and a 1-year high of $34.82. The company's 50-day moving average is $29.95 and its two-hundred day moving average is $31.48.

Tri-Continental Increases Dividend

The firm also recently declared 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 is a boost 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 dividend on an annualized basis and a yield of 3.68%.

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.