Oppenheimer & Co. Inc. Sells 1,249 Shares of Tri-Continental Co. (NYSE:TY)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Tri-Continental Co. (NYSE:TY) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,479 shares of the investment management company’s stock after selling 1,249 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tri-Continental were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GPS Wealth Strategies Group LLC purchased a new position in shares of Tri-Continental during the first quarter valued at $25,000. BNP Paribas Arbitrage SA purchased a new position in shares of Tri-Continental during the first quarter valued at $25,000. JFS Wealth Advisors LLC purchased a new position in shares of Tri-Continental during the fourth quarter valued at $27,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Tri-Continental during the fourth quarter valued at $36,000. Finally, Spire Wealth Management increased its stake in shares of Tri-Continental by 56.9% during the first quarter. Spire Wealth Management now owns 2,589 shares of the investment management company’s stock valued at $69,000 after buying an additional 939 shares during the period. 9.75% of the stock is currently owned by institutional investors.

Tri-Continental Stock Performance

Shares of Tri-Continental stock opened at $27.72 on Thursday. Tri-Continental Co. has a 12 month low of $25.23 and a 12 month high of $28.55. The stock’s fifty day moving average price is $27.67 and its 200-day moving average price is $26.92.

Insider Activity

In other news, Portfolio Manager Raghavendran Sivaraman bought 3,000 shares of Tri-Continental stock in a transaction on Thursday, July 6th. The stock was acquired at an average cost of $27.07 per share, for a total transaction of $81,210.00. Following the completion of the acquisition, the portfolio manager now owns 3,000 shares of the company’s stock, valued at approximately $81,210. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.