CoreFirst Bank & Trust Purchases New Stake in Tri-Continental Co. (NYSE:TY)

CoreFirst Bank & Trust purchased a new stake in shares of Tri-Continental Co. (NYSE:TY) in the 4th quarter, Holdings Channel reports. The fund purchased 1,100 shares of the investment management company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Tri-Continental during the 4th quarter worth about $10,315,000. Kovitz Investment Group Partners LLC acquired a new stake in Tri-Continental during the third quarter worth approximately $7,366,000. Wolverine Asset Management LLC boosted its holdings in shares of Tri-Continental by 5.2% during the fourth quarter. Wolverine Asset Management LLC now owns 126,932 shares of the investment management company’s stock worth $4,022,000 after acquiring an additional 6,222 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Tri-Continental by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 126,471 shares of the investment management company’s stock valued at $4,179,000 after purchasing an additional 1,343 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Tri-Continental during the third quarter worth approximately $3,411,000. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction dated 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 sale, the director now owns 101 shares of the company’s stock, valued at $3,154.23. The trade was a 94.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.66% of the stock is currently owned by company insiders.

Tri-Continental Price Performance

NYSE:TY opened at $31.32 on Wednesday. The stock has a 50 day simple moving average of $32.00 and a 200 day simple moving average of $32.59. Tri-Continental Co. has a 1-year low of $29.17 and a 1-year high of $34.82.

Tri-Continental Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.2766 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is 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.