Raymond James Financial Inc. Makes New $10.32 Million Investment in Tri-Continental Co. (NYSE:TY)

Raymond James Financial Inc. purchased a new position in shares of Tri-Continental Co. (NYSE:TY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 325,495 shares of the investment management company’s stock, valued at approximately $10,315,000. Raymond James Financial Inc. owned 0.60% of Tri-Continental at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mezzasalma Advisors LLC purchased a new position in shares of Tri-Continental in the 4th quarter valued at about $206,000. Walleye Capital LLC purchased a new position in shares of Tri-Continental in the 3rd quarter valued at about $269,000. Crews Bank & Trust purchased a new position in shares of Tri-Continental in the 4th quarter valued at about $270,000. JSF Financial LLC purchased a new position in shares of Tri-Continental in the 4th quarter valued at about $310,000. Finally, Apollon Wealth Management LLC increased its holdings in shares of Tri-Continental by 14.0% in the 4th quarter. Apollon Wealth Management LLC now owns 10,255 shares of the investment management company’s stock valued at $325,000 after acquiring an additional 1,259 shares during the last quarter. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Insider Activity at Tri-Continental

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the sale, the director now directly owns 101 shares of the company’s stock, valued at approximately $3,154.23. This trade represents a 94.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.66% of the company’s stock.

Tri-Continental Trading Down 0.2 %

TY opened at $30.64 on Friday. Tri-Continental Co. has a one year low of $29.17 and a one year high of $34.82. The business’s 50-day simple moving average is $32.01 and its 200-day simple moving average is $32.59.

Tri-Continental Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 18th will be given a $0.2766 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.61%.

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.