Comerica Bank Purchases 1,300 Shares of Tri-Continental Co. (NYSE:TY)

Comerica Bank raised its stake in shares of Tri-Continental Co. (NYSE:TY) by 103.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,551 shares of the investment management company’s stock after purchasing an additional 1,300 shares during the period. Comerica Bank’s holdings in Tri-Continental were worth $81,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. CoreFirst Bank & Trust bought a new stake in Tri-Continental during the fourth quarter worth approximately $35,000. Anchor Investment Management LLC purchased a new stake in Tri-Continental during the fourth quarter worth $63,000. Transce3nd LLC purchased a new stake in shares of Tri-Continental during the 4th quarter valued at $96,000. Mezzasalma Advisors LLC purchased a new stake in shares of Tri-Continental during the 4th quarter valued at $206,000. Finally, PNC Financial Services Group Inc. raised its stake in Tri-Continental by 115.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,848 shares of the investment management company’s stock worth $249,000 after acquiring an additional 4,209 shares during the last quarter. Institutional investors own 10.22% of the company’s stock.

Insider Activity

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.23, for a total value of $56,682.45. Following the completion of the transaction, the director now owns 101 shares in the company, valued at $3,154.23. This represents a 94.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.66% of the company’s stock.

Tri-Continental Stock Up 0.4%

Shares of TY opened at $31.40 on Monday. Tri-Continental Co. has a fifty-two week low of $26.54 and a fifty-two week high of $34.82. The business’s 50-day moving average is $29.84 and its two-hundred day moving average is $31.68.

Tri-Continental Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.2766 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Tuesday, March 18th.

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.