Altus Wealth Group LLC Has $1.16 Million Stake in Tri-Continental Co. (NYSE:TY)

Altus Wealth Group LLC decreased its holdings in Tri-Continental Co. (NYSE:TY) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,242 shares of the investment management company’s stock after selling 782 shares during the quarter. Altus Wealth Group LLC’s holdings in Tri-Continental were worth $1,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atwood & Palmer Inc. bought a new position in Tri-Continental in the 2nd quarter valued at about $84,000. Motco bought a new position in Tri-Continental in the 1st quarter valued at about $108,000. Northwestern Mutual Wealth Management Co. increased its holdings in 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 period. Choate Investment Advisors bought a new position in Tri-Continental in the 1st quarter valued at about $213,000. Finally, 9258 Wealth Management LLC bought a new position in Tri-Continental in the 1st quarter valued at about $213,000. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Price Performance

TY stock traded down $0.10 during mid-day trading on Wednesday, hitting $33.30. The stock had a trading volume of 4,767 shares, compared to its average volume of 37,935. Tri-Continental Co. has a 52 week low of $25.16 and a 52 week high of $33.66. The firm has a fifty day simple moving average of $32.48 and a 200 day simple moving average of $31.29.

Tri-Continental Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were issued a $0.291 dividend. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was 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.