AQR Arbitrage LLC Decreases Stock Position in Tri-Continental Co. (NYSE:TY)

AQR Arbitrage LLC lowered its stake in shares of Tri-Continental Co. (NYSE:TY - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,920 shares of the investment management company's stock after selling 23,272 shares during the period. AQR Arbitrage LLC owned 0.06% of Tri-Continental worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Tri-Continental in the 4th quarter worth about $10,315,000. Platform Technology Partners grew its stake in shares of Tri-Continental by 69.0% during the fourth quarter. Platform Technology Partners now owns 97,531 shares of the investment management company's stock valued at $3,091,000 after buying an additional 39,819 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Tri-Continental by 95.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 59,871 shares of the investment management company's stock worth $1,897,000 after purchasing an additional 29,212 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Tri-Continental during the fourth quarter worth approximately $386,000. Finally, TIAA Trust National Association bought a new stake in Tri-Continental during the 4th quarter valued at $377,000. Hedge funds and other institutional investors own 10.22% of the company's stock.

Insiders Place Their Bets

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

Tri-Continental Stock Down 0.1 %

NYSE:TY traded down $0.04 during mid-day trading on Wednesday, reaching $30.01. The company's stock had a trading volume of 15,721 shares, compared to its average volume of 43,918. The stock has a fifty day moving average of $29.93 and a 200-day moving average of $31.82. Tri-Continental Co. has a 1 year low of $26.54 and a 1 year high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th were paid a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Tuesday, March 18th.

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.