Tri-Continental Co. (NYSE:TY) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its holdings in Tri-Continental Co. (NYSE:TY) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,462 shares of the investment management company’s stock after selling 1,265 shares during the quarter. LPL Financial LLC’s holdings in Tri-Continental were worth $1,377,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mezzasalma Advisors LLC bought a new position in Tri-Continental during the 4th quarter valued at $206,000. PNC Financial Services Group Inc. raised its stake in shares of Tri-Continental by 115.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after buying an additional 4,209 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Tri-Continental in the fourth quarter valued at $270,000. JSF Financial LLC bought a new position in Tri-Continental during the fourth quarter valued at about $310,000. Finally, Apollon Wealth Management LLC boosted its stake in Tri-Continental by 14.0% during the fourth quarter. Apollon Wealth Management LLC now owns 10,255 shares of the investment management company’s stock valued at $325,000 after buying an additional 1,259 shares in the last quarter. 10.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tri-Continental

In other news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction on Friday, March 7th. The stock was 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 of the company’s stock, valued at $3,154.23. The trade was a 94.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.66% of the company’s stock.

Tri-Continental Trading Up 0.8 %

Shares of Tri-Continental stock opened at $28.51 on Friday. Tri-Continental Co. has a 52 week low of $26.54 and a 52 week high of $34.82. The company’s 50-day moving average price is $30.67 and its two-hundred day moving average price is $32.14.

Tri-Continental Cuts Dividend

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

Tri-Continental 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.