Tri-Continental Co. (NYSE:TY) Shares Bought by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. increased its stake in Tri-Continental Co. (NYSE:TY) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,815 shares of the investment management company’s stock after purchasing an additional 586 shares during the period. Johnson Investment Counsel Inc.’s holdings in Tri-Continental were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Tri-Continental during the second quarter worth $1,771,000. Cornerstone Advisors LLC lifted its position in Tri-Continental by 63.7% during the 1st quarter. Cornerstone Advisors LLC now owns 141,736 shares of the investment management company’s stock worth $4,365,000 after acquiring an additional 55,141 shares during the period. First Merchants Corp purchased a new stake in Tri-Continental during the 2nd quarter valued at about $855,000. Shaker Financial Services LLC increased its holdings in shares of Tri-Continental by 36.6% in the second quarter. Shaker Financial Services LLC now owns 94,909 shares of the investment management company’s stock valued at $2,939,000 after purchasing an additional 25,434 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in shares of Tri-Continental by 85.1% in the second quarter. Wolverine Asset Management LLC now owns 53,133 shares of the investment management company’s stock worth $1,646,000 after purchasing an additional 24,427 shares during the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Performance

Shares of NYSE TY opened at $32.16 on Friday. Tri-Continental Co. has a 12 month low of $25.16 and a 12 month high of $32.39. The company has a 50 day simple moving average of $31.53 and a two-hundred day simple moving average of $30.76.

Tri-Continental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be given a dividend of $0.291 per share. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, September 13th.

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.