US Bancorp DE Increases Position in Tri-Continental Co. (NYSE:TY)

US Bancorp DE lifted its position in shares of Tri-Continental Co. (NYSE:TY) by 16.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,648 shares of the investment management company’s stock after purchasing an additional 796 shares during the period. US Bancorp DE’s holdings in Tri-Continental were worth $187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Tri-Continental by 3,203.9% during the third quarter. International Assets Investment Management LLC now owns 232,295 shares of the investment management company’s stock worth $7,031,000 after purchasing an additional 225,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Tri-Continental by 19.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after buying an additional 579 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tri-Continental by 3.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 441,730 shares of the investment management company’s stock worth $14,595,000 after acquiring an additional 15,350 shares in the last quarter. Creative Planning lifted its position in Tri-Continental by 74.8% in the third quarter. Creative Planning now owns 25,860 shares of the investment management company’s stock valued at $854,000 after acquiring an additional 11,067 shares during the last quarter. Finally, First Merchants Corp purchased a new stake in Tri-Continental in the second quarter valued at $855,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.6 %

Shares of TY stock opened at $33.51 on Friday. The stock’s 50-day moving average is $32.98 and its two-hundred day moving average is $31.70. Tri-Continental Co. has a 1 year low of $27.01 and a 1 year high of $34.30.

Tri-Continental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a dividend of $0.291 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29.

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.