Pamela G. Carlton Sells 1,815 Shares of Tri-Continental Co. (NYSE:TY) Stock

Tri-Continental Co. (NYSE:TY) Director Pamela G. Carlton sold 1,815 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 approximately $3,154.23. This trade represents a 94.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tri-Continental Trading Up 0.2 %

Shares of NYSE:TY opened at $30.72 on Thursday. Tri-Continental Co. has a 1 year low of $29.17 and a 1 year high of $34.82. The business has a fifty day simple moving average of $32.14 and a 200 day simple moving average of $32.66.

Tri-Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.2766 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.11 annualized dividend and a dividend yield of 3.60%.

Institutional Trading of Tri-Continental

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Tri-Continental during the fourth quarter worth $10,315,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Tri-Continental in the third quarter worth about $7,366,000. Shaker Financial Services LLC lifted its position in shares of Tri-Continental by 1.9% in the fourth quarter. Shaker Financial Services LLC now owns 164,067 shares of the investment management company’s stock worth $5,199,000 after buying an additional 3,010 shares during the last quarter. Cornerstone Advisory LLC acquired a new stake in shares of Tri-Continental in the fourth quarter worth about $4,214,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Tri-Continental by 5.2% in the fourth quarter. Wolverine Asset Management LLC now owns 126,932 shares of the investment management company’s stock worth $4,022,000 after buying an additional 6,222 shares during the last quarter. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

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.