Independent Family Office LLC Invests $201,000 in Tri-Continental Co. (NYSE:TY)

Independent Family Office LLC purchased a new position in Tri-Continental Co. (NYSE:TY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,987 shares of the investment management company’s stock, valued at approximately $201,000.

A number of other institutional investors have also bought and sold shares of the business. Morgan Stanley increased its stake in Tri-Continental by 4.8% in the 4th quarter. Morgan Stanley now owns 697,482 shares of the investment management company’s stock worth $17,877,000 after buying an additional 31,678 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Tri-Continental by 27.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 567,088 shares of the investment management company’s stock valued at $16,349,000 after purchasing an additional 121,196 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Tri-Continental by 1.5% during the first quarter. Lazard Asset Management LLC now owns 451,748 shares of the investment management company’s stock valued at $13,931,000 after purchasing an additional 6,840 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Tri-Continental by 0.3% during the second quarter. Wells Fargo & Company MN now owns 268,843 shares of the investment management company’s stock valued at $7,372,000 after purchasing an additional 689 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Tri-Continental by 53.1% during the first quarter. UBS Group AG now owns 252,339 shares of the investment management company’s stock valued at $6,700,000 after purchasing an additional 87,518 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Trading Up 0.2 %

Shares of Tri-Continental stock traded up $0.06 during trading on Tuesday, reaching $29.53. 17,251 shares of the stock traded hands, compared to its average volume of 40,891. The business has a fifty day simple moving average of $29.91 and a two-hundred day simple moving average of $28.44. Tri-Continental Co. has a 52-week low of $25.16 and a 52-week high of $30.95.

Tri-Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Monday, March 11th were given a dividend of $0.256 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.47%.

About Tri-Continental

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.