Tri-Continental Co. (NYSE:TY) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors lowered its stake in Tri-Continental Co. (NYSE:TY) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,028 shares of the investment management company’s stock after selling 1,155 shares during the quarter. Heritage Wealth Advisors’ holdings in Tri-Continental were worth $603,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Tri-Continental in the 4th quarter valued at approximately $10,315,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Tri-Continental during the third quarter worth $7,366,000. EP Wealth Advisors LLC acquired a new stake in shares of Tri-Continental in the third quarter valued at $3,411,000. Platform Technology Partners raised its holdings in shares of Tri-Continental by 69.0% in the 4th quarter. Platform Technology Partners now owns 97,531 shares of the investment management company’s stock valued at $3,091,000 after buying an additional 39,819 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in Tri-Continental by 95.3% during the 4th quarter. Concurrent Investment Advisors LLC now owns 59,871 shares of the investment management company’s stock worth $1,897,000 after acquiring an additional 29,212 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 $31.32 on Wednesday. The business has a 50-day moving average of $32.00 and a 200 day moving average of $32.59. 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th will be issued a $0.2766 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, March 18th.

Insider Buying and Selling

In related news, Director Pamela G. Carlton sold 1,815 shares of Tri-Continental stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the transaction, the director now directly owns 101 shares in the company, valued at approximately $3,154.23. This trade represents a 94.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.66% of the stock is owned by insiders.

Tri-Continental 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.