First Trust Advisors LP increased its holdings in Tri-Continental Co. (NYSE:TY) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,186 shares of the investment management company’s stock after acquiring an additional 11,627 shares during the quarter. First Trust Advisors LP’s holdings in Tri-Continental were worth $2,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in TY. Shaker Financial Services LLC purchased a new stake in Tri-Continental in the first quarter worth $5,364,000. AdvisorNet Financial Inc purchased a new stake in Tri-Continental in the first quarter worth $1,018,000. Baird Financial Group Inc. lifted its stake in Tri-Continental by 186.6% in the first quarter. Baird Financial Group Inc. now owns 58,326 shares of the investment management company’s stock worth $1,535,000 after acquiring an additional 37,975 shares during the period. 1607 Capital Partners LLC lifted its stake in Tri-Continental by 13.7% in the first quarter. 1607 Capital Partners LLC now owns 292,161 shares of the investment management company’s stock worth $7,687,000 after acquiring an additional 35,100 shares during the period. Finally, UBS Group AG lifted its position in Tri-Continental by 47.6% during the first quarter. UBS Group AG now owns 104,047 shares of the investment management company’s stock valued at $2,737,000 after buying an additional 33,574 shares during the period. 11.55% of the stock is owned by institutional investors.

Shares of Tri-Continental stock opened at $27.83 on Monday. Tri-Continental Co. has a 12 month low of $24.98 and a 12 month high of $28.32.

In other Tri-Continental news, insider Peter Albanese sold 5,500 shares of the firm’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $27.50, for a total transaction of $151,250.00. Following the completion of the transaction, the insider now owns 9,268 shares of the company’s stock, valued at $254,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.66% of the company’s stock.

About Tri-Continental

Tri-Continental Corp. is a diversified, closed-end management investment company, which invests primarily for the longer term. Its objective is to produce future growth of both capital and income while providing reasonable current income. The company was founded on January 14, 1929 and is headquartered in Boston, MA.

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Institutional Ownership by Quarter for Tri-Continental (NYSE:TY)

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