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

Independent Family Office LLC acquired a new stake in Tri-Continental Co. (NYSE:TY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,987 shares of the investment management company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cetera Advisors LLC lifted its stake in Tri-Continental by 2.3% in the fourth quarter. Cetera Advisors LLC now owns 16,579 shares of the investment management company’s stock valued at $425,000 after buying an additional 377 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Tri-Continental by 0.4% during the third quarter. Commonwealth Equity Services LLC now owns 109,607 shares of the investment management company’s stock worth $2,914,000 after purchasing an additional 479 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Tri-Continental by 18.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,411 shares of the investment management company’s stock worth $87,000 after purchasing an additional 531 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Tri-Continental by 1.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 53,405 shares of the investment management company’s stock worth $1,420,000 after purchasing an additional 579 shares during the period. Finally, Wells Fargo & Company MN raised 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 worth $7,372,000 after purchasing an additional 689 shares during the period. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Stock Up 0.2 %

Shares of NYSE:TY traded up $0.06 during mid-day trading on Tuesday, reaching $29.53. 17,251 shares of the stock were exchanged, compared to its average volume of 40,891. Tri-Continental Co. has a one year low of $25.16 and a one year high of $30.95. The stock’s 50 day simple moving average is $29.91 and its 200-day simple moving average is $28.44.

Tri-Continental Cuts Dividend

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

Tri-Continental Company 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.