Janney Montgomery Scott LLC Raises Stock Holdings in Tri-Continental Co. (NYSE:TY)

Janney Montgomery Scott LLC increased its holdings in Tri-Continental Co. (NYSE:TY) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,876 shares of the investment management company’s stock after buying an additional 507 shares during the period. Janney Montgomery Scott LLC’s holdings in Tri-Continental were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of TY. US Bancorp DE grew its holdings in shares of Tri-Continental by 16.4% during the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock worth $187,000 after buying an additional 796 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Tri-Continental in the 3rd quarter valued at approximately $269,000. JPMorgan Chase & Co. increased its holdings in shares of Tri-Continental by 218.4% in the third quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company’s stock valued at $435,000 after purchasing an additional 9,027 shares during the period. Successful Portfolios LLC raised its stake in shares of Tri-Continental by 4.0% during the fourth quarter. Successful Portfolios LLC now owns 15,605 shares of the investment management company’s stock worth $495,000 after purchasing an additional 593 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Tri-Continental by 74.8% during the third quarter. Creative Planning now owns 25,860 shares of the investment management company’s stock worth $854,000 after purchasing an additional 11,067 shares during the period. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.3 %

Shares of NYSE:TY opened at $32.46 on Tuesday. Tri-Continental Co. has a fifty-two week low of $29.01 and a fifty-two week high of $34.82. The firm’s 50-day simple moving average is $32.43 and its 200-day simple moving average is $32.56.

Tri-Continental Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 13th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a dividend yield of 3.3%.

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.