Tri-Continental Co. (NYSE:TY) Holdings Decreased by Northern Trust Corp

Northern Trust Corp lowered its stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 59.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp boosted its stake in Tri-Continental by 0.9% during the 4th quarter. Stifel Financial Corp now owns 95,546 shares of the investment management company's stock worth $3,028,000 after purchasing an additional 844 shares during the last quarter. Shaker Financial Services LLC lifted its stake in shares of Tri-Continental by 1.9% in the fourth quarter. Shaker Financial Services LLC now owns 164,067 shares of the investment management company's stock worth $5,199,000 after buying an additional 3,010 shares in the last quarter. Transce3nd LLC acquired a new position in Tri-Continental during the fourth quarter worth about $96,000. First Trust Advisors LP grew its stake in Tri-Continental by 4.7% during the 4th quarter. First Trust Advisors LP now owns 56,749 shares of the investment management company's stock valued at $1,798,000 after acquiring an additional 2,547 shares in the last quarter. Finally, MSH Capital Advisors LLC purchased a new position in Tri-Continental in the 4th quarter worth approximately $348,000. 10.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Pamela G. Carlton sold 1,815 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the sale, the director now directly owns 101 shares of the company's stock, valued at approximately $3,154.23. The trade was a 94.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.66% of the company's stock.

Tri-Continental Stock Performance

Shares of Tri-Continental stock traded up $0.26 during mid-day trading on Thursday, hitting $31.67. The stock had a trading volume of 5,069 shares, compared to its average volume of 44,457. The firm has a 50-day moving average of $29.93 and a two-hundred day moving average of $31.50. Tri-Continental Co. has a 12-month low of $26.54 and a 12-month high of $34.82.

Tri-Continental Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 16th will be given a dividend of $0.29 per share. The ex-dividend date is Monday, June 16th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.66%. This is a positive change from Tri-Continental's previous quarterly dividend of $0.28.

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.