Commonwealth Equity Services LLC Lowers Stock Position in Tri-Continental Co. (NYSE:TY)

Commonwealth Equity Services LLC lessened its holdings in Tri-Continental Co. (NYSE:TY) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,222 shares of the investment management company’s stock after selling 1,562 shares during the period. Commonwealth Equity Services LLC’s holdings in Tri-Continental were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Tri-Continental during the 2nd quarter worth approximately $1,771,000. Cornerstone Advisors LLC raised its stake in shares of 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 in the last quarter. First Merchants Corp bought a new position in shares of Tri-Continental during the 2nd quarter worth approximately $855,000. Heritage Wealth Advisors raised its stake in shares of Tri-Continental by 102.0% during the 1st quarter. Heritage Wealth Advisors now owns 42,785 shares of the investment management company’s stock worth $1,318,000 after acquiring an additional 21,602 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Tri-Continental by 6.0% during the 4th quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company’s stock worth $7,777,000 after acquiring an additional 15,351 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Performance

Shares of Tri-Continental stock opened at $32.16 on Monday. Tri-Continental Co. has a 12-month low of $25.16 and a 12-month high of $32.39. The firm’s 50 day simple moving average is $31.53 and its two-hundred day simple moving average is $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 paid a dividend of $0.291 per share. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.16 dividend on an annualized basis and a yield of 3.62%.

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.