Platform Technology Partners Invests $1.91 Million in Tri-Continental Co. (NYSE:TY)

Platform Technology Partners purchased a new position in Tri-Continental Co. (NYSE:TY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 57,712 shares of the investment management company’s stock, valued at approximately $1,907,000. Platform Technology Partners owned approximately 0.11% of Tri-Continental as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of TY. Oppenheimer & Co. Inc. purchased a new stake in Tri-Continental in the 1st quarter worth $324,000. Concurrent Investment Advisors LLC increased its stake in Tri-Continental by 2.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 24,469 shares of the investment management company’s stock worth $754,000 after buying an additional 620 shares in the last quarter. Choate Investment Advisors purchased a new stake in Tri-Continental in the 1st quarter worth $213,000. NorthRock Partners LLC purchased a new stake in Tri-Continental in the 1st quarter worth $369,000. Finally, Motco purchased a new stake in Tri-Continental in the 1st quarter worth $108,000. Hedge funds and other institutional investors own 10.22% of the company’s stock.

Tri-Continental Price Performance

TY opened at $34.06 on Tuesday. The firm has a 50-day simple moving average of $32.87 and a two-hundred day simple moving average of $31.64. Tri-Continental Co. has a 52 week low of $26.54 and a 52 week high of $34.30.

Tri-Continental Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were issued a dividend of $0.291 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, September 13th. This is an increase from Tri-Continental’s previous quarterly dividend of $0.29.

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.