HighTower Advisors LLC Buys 1,178 Shares of Tri-Continental Co. (NYSE:TY)

HighTower Advisors LLC increased its stake in shares of Tri-Continental Co. (NYSE:TY) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,454 shares of the investment management company’s stock after purchasing an additional 1,178 shares during the quarter. HighTower Advisors LLC’s holdings in Tri-Continental were worth $902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mezzasalma Advisors LLC bought a new position in Tri-Continental during the fourth quarter valued at $206,000. PNC Financial Services Group Inc. boosted its stake in shares of Tri-Continental by 115.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after purchasing an additional 4,209 shares during the period. Walleye Capital LLC bought a new position in Tri-Continental during the 3rd quarter valued at about $269,000. Crews Bank & Trust purchased a new stake in Tri-Continental in the 4th quarter worth about $270,000. Finally, JSF Financial LLC bought a new stake in Tri-Continental in the fourth quarter worth about $310,000. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.0 %

TY opened at $31.12 on Friday. The stock’s 50 day moving average price is $31.97 and its 200-day moving average price is $32.57. Tri-Continental Co. has a one year low of $29.17 and a one year high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were paid a $0.2766 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.11 dividend on an annualized basis and a yield of 3.56%.

Insider Transactions at Tri-Continental

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.23, for a total value of $56,682.45. Following the transaction, the director now directly owns 101 shares in the company, valued at $3,154.23. This represents a 94.73 % decrease in their position. 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.

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.