International Assets Investment Management LLC Acquires 193,854 Shares of Tri-Continental Co. (NYSE:TY)

International Assets Investment Management LLC boosted its position in shares of Tri-Continental Co. (NYSE:TY) by 2,793.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,793 shares of the investment management company’s stock after acquiring an additional 193,854 shares during the period. International Assets Investment Management LLC’s holdings in Tri-Continental were worth $5,789,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Morgan Stanley grew its stake in Tri-Continental by 4.8% during the fourth quarter. Morgan Stanley now owns 697,482 shares of the investment management company’s stock valued at $17,877,000 after acquiring an additional 31,678 shares in the last quarter. Lazard Asset Management LLC grew its stake in Tri-Continental by 1.5% during the first quarter. Lazard Asset Management LLC now owns 451,748 shares of the investment management company’s stock valued at $13,931,000 after acquiring an additional 6,840 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tri-Continental by 9.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 445,892 shares of the investment management company’s stock valued at $11,856,000 after acquiring an additional 38,962 shares in the last quarter. Wells Fargo & Company MN grew its stake in Tri-Continental by 0.3% during the second quarter. Wells Fargo & Company MN now owns 268,843 shares of the investment management company’s stock valued at $7,372,000 after acquiring an additional 689 shares in the last quarter. Finally, UBS Group AG grew its stake in Tri-Continental by 53.1% during the first quarter. UBS Group AG now owns 252,339 shares of the investment management company’s stock valued at $6,700,000 after acquiring an additional 87,518 shares in the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.6 %

Shares of NYSE:TY opened at $29.50 on Tuesday. Tri-Continental Co. has a 12 month low of $25.16 and a 12 month high of $30.95. The company has a 50 day moving average of $29.91 and a 200 day moving average of $28.44.

Tri-Continental Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Monday, March 11th were paid a $0.256 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.02 dividend on an annualized basis and a yield of 3.47%.

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.