1620 Investment Advisors Inc. Raises Holdings in Tri-Continental Co. (NYSE:TY)

1620 Investment Advisors Inc. boosted its position in shares of Tri-Continental Co. (NYSE:TY) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 89,044 shares of the investment management company’s stock after buying an additional 645 shares during the quarter. Tri-Continental makes up approximately 2.1% of 1620 Investment Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. 1620 Investment Advisors Inc.’s holdings in Tri-Continental were worth $2,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Savant Capital LLC increased its stake in Tri-Continental by 1.7% during the fourth quarter. Savant Capital LLC now owns 18,950 shares of the investment management company’s stock valued at $601,000 after acquiring an additional 318 shares during the period. D.A. Davidson & CO. grew its stake in shares of Tri-Continental by 0.4% in the 3rd quarter. D.A. Davidson & CO. now owns 81,380 shares of the investment management company’s stock valued at $2,689,000 after purchasing an additional 360 shares during the period. Allworth Financial LP grew its stake in shares of Tri-Continental by 3.1% in the 4th quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock valued at $509,000 after purchasing an additional 472 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Tri-Continental by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company’s stock valued at $345,000 after purchasing an additional 507 shares during the period. Finally, Cora Capital Advisors LLC grew its stake in shares of Tri-Continental by 5.0% in the 4th quarter. Cora Capital Advisors LLC now owns 11,005 shares of the investment management company’s stock valued at $349,000 after purchasing an additional 522 shares during the period. 10.22% of the stock is currently owned by institutional investors.

Tri-Continental Trading Down 0.1 %

TY stock opened at $30.72 on Friday. Tri-Continental Co. has a 1-year low of $29.17 and a 1-year high of $34.82. The business’s 50 day moving average is $32.03 and its 200-day moving average is $32.60.

Tri-Continental Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th will be paid a $0.2766 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.11 annualized dividend and a dividend yield of 3.60%.

Insider Activity

In other news, Director Pamela G. Carlton sold 1,815 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 101 shares in the company, valued at approximately $3,154.23. This represents a 94.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.66% of the company’s stock.

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.