Shaker Financial Services LLC Decreases Stock Holdings in Tri-Continental Co. (NYSE:TY)

Shaker Financial Services LLC reduced its stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 58.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,464 shares of the investment management company's stock after selling 51,467 shares during the period. Shaker Financial Services LLC owned about 0.07% of Tri-Continental worth $1,051,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Independent Family Office LLC bought a new position in Tri-Continental in the 4th quarter worth approximately $201,000. Tandem Capital Management Corp ADV bought a new position in Tri-Continental in the 3rd quarter worth approximately $215,000. Prentiss Smith & Co. Inc. bought a new position in Tri-Continental in the 4th quarter worth approximately $230,000. Apollon Wealth Management LLC bought a new position in Tri-Continental in the 4th quarter worth approximately $250,000. Finally, Private Advisor Group LLC boosted its holdings in Tri-Continental by 14.1% in the 4th quarter. Private Advisor Group LLC now owns 10,307 shares of the investment management company's stock worth $297,000 after buying an additional 1,275 shares during the period. 10.22% of the stock is owned by institutional investors.

Tri-Continental Stock Performance

NYSE TY traded up $0.10 on Friday, hitting $30.45. The stock had a trading volume of 21,319 shares, compared to its average volume of 35,642. Tri-Continental Co. has a 52-week low of $25.16 and a 52-week high of $30.95. The firm has a 50-day moving average of $30.04 and a 200-day moving average of $28.86.

Tri-Continental Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Monday, March 11th were paid a $0.256 dividend. This represents a $1.02 annualized dividend and a yield of 3.36%. The ex-dividend date was Friday, March 8th.

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.