Wells Fargo & Company MN Lowers Position in Tri-Continental Co. (NYSE:TY)

Wells Fargo & Company MN trimmed its holdings in shares of Tri-Continental Co. (NYSE:TY) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,029 shares of the investment management company’s stock after selling 1,228 shares during the quarter. Wells Fargo & Company MN owned about 0.47% of Tri-Continental worth $7,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in TY. Raymond James Financial Inc. bought a new position in shares of Tri-Continental during the fourth quarter valued at about $10,315,000. Wolverine Asset Management LLC grew its holdings in 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 purchasing an additional 6,222 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tri-Continental by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 126,471 shares of the investment management company’s stock valued at $4,179,000 after acquiring an additional 1,343 shares in the last quarter. Platform Technology Partners raised its holdings in Tri-Continental by 69.0% in the 4th quarter. Platform Technology Partners now owns 97,531 shares of the investment management company’s stock worth $3,091,000 after acquiring an additional 39,819 shares during the last quarter. Finally, 1620 Investment Advisors Inc. increased its holdings in Tri-Continental by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 89,044 shares of the investment management company’s stock worth $2,822,000 after buying an additional 645 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $56,682.45. Following the sale, the director now directly owns 101 shares in the company, valued at approximately $3,154.23. This represents a 94.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.66% of the stock is currently owned by company insiders.

Tri-Continental Trading Up 0.8 %

Shares of TY opened at $28.51 on Friday. Tri-Continental Co. has a 1-year low of $26.54 and a 1-year high of $34.82. The firm has a fifty day simple moving average of $30.75 and a two-hundred day simple moving average of $32.17.

Tri-Continental Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.2766 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.11 annualized dividend and a dividend yield of 3.88%.

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.