Tri-Continental Co. (NYSE:TY) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC trimmed its position in Tri-Continental Co. (NYSE:TY) by 55.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,242 shares of the investment management company’s stock after selling 67,677 shares during the period. Cornerstone Advisors LLC’s holdings in Tri-Continental were worth $1,751,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE raised its position in Tri-Continental by 16.4% in the third quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock valued at $187,000 after purchasing an additional 796 shares during the period. Mezzasalma Advisors LLC purchased a new stake in shares of Tri-Continental during the fourth quarter worth $206,000. PNC Financial Services Group Inc. increased its position in shares of Tri-Continental by 115.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after acquiring an additional 4,209 shares during the period. Walleye Capital LLC purchased a new stake in shares of Tri-Continental during the third quarter worth $269,000. Finally, Crews Bank & Trust purchased a new stake in shares of Tri-Continental during the fourth quarter worth $270,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Trading Down 1.7 %

Shares of TY stock opened at $30.89 on Tuesday. The firm has a fifty day moving average price of $32.18 and a 200 day moving average price of $32.69. Tri-Continental Co. has a 12 month low of $29.17 and a 12 month high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.2766 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.11 annualized dividend and a dividend yield of 3.58%.

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.