Cornerstone Advisors LLC Sells 44,463 Shares of Tri-Continental Co. (NYSE:TY)

Cornerstone Advisors LLC reduced its holdings in Tri-Continental Co. (NYSE:TY) by 26.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,919 shares of the investment management company’s stock after selling 44,463 shares during the quarter. Cornerstone Advisors LLC owned 0.23% of Tri-Continental worth $4,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TY. Cetera Advisors LLC grew its holdings in shares of Tri-Continental by 105.3% in the 1st quarter. Cetera Advisors LLC now owns 16,868 shares of the investment management company’s stock valued at $520,000 after acquiring an additional 8,653 shares in the last quarter. BancFirst Trust & Investment Management bought a new position in shares of Tri-Continental in the second quarter worth $341,000. Atwood & Palmer Inc. acquired a new stake in shares of Tri-Continental in the 2nd quarter valued at $84,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tri-Continental by 1.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 115,813 shares of the investment management company’s stock valued at $3,587,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Whitener Capital Management Inc. grew its position in Tri-Continental by 2.7% during the 2nd quarter. Whitener Capital Management Inc. now owns 36,555 shares of the investment management company’s stock worth $1,132,000 after acquiring an additional 965 shares during the last quarter. Institutional investors own 10.22% of the company’s stock.

Tri-Continental Price Performance

Shares of TY opened at $33.61 on Thursday. The stock’s 50-day moving average price is $33.12 and its two-hundred day moving average price is $31.82. Tri-Continental Co. has a 12 month low of $27.13 and a 12 month high of $34.30.

Tri-Continental Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 13th will be paid a $0.285 dividend. The ex-dividend date is Friday, December 13th. This represents a dividend yield of 3.3%.

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.