NorthRock Partners LLC Raises Position in Tri-Continental Co. (NYSE:TY)

NorthRock Partners LLC raised its holdings in Tri-Continental Co. (NYSE:TY) by 66.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,156 shares of the investment management company’s stock after buying an additional 4,468 shares during the period. NorthRock Partners LLC’s holdings in Tri-Continental were worth $354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Tri-Continental by 218.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company’s stock worth $435,000 after purchasing an additional 9,027 shares during the last quarter. Successful Portfolios LLC lifted its position in shares of Tri-Continental by 4.0% during the 4th quarter. Successful Portfolios LLC now owns 15,605 shares of the investment management company’s stock worth $495,000 after purchasing an additional 593 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Tri-Continental by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company’s stock worth $345,000 after purchasing an additional 507 shares during the last quarter. Cora Capital Advisors LLC lifted its position in shares of Tri-Continental by 5.0% during the 4th quarter. Cora Capital Advisors LLC now owns 11,005 shares of the investment management company’s stock worth $349,000 after purchasing an additional 522 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Tri-Continental by 7.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 11,200 shares of the investment management company’s stock worth $355,000 after purchasing an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Insider Transactions at Tri-Continental

In related news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction on Friday, March 7th. The shares were 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 $3,154.23. The trade was 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 at this hyperlink. Corporate insiders own 8.66% of the company’s stock.

Tri-Continental Stock Up 0.4%

Tri-Continental stock opened at $31.40 on Friday. The company has a fifty day simple moving average of $29.84 and a 200-day simple moving average of $31.69. Tri-Continental Co. has a 12-month low of $26.54 and a 12-month high of $34.82.

Tri-Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.2766 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.11 annualized dividend and a dividend yield of 3.52%.

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.