Altus Wealth Group LLC Has $1.10 Million Holdings in Tri-Continental Co. (NYSE:TY)

Altus Wealth Group LLC decreased its holdings in shares of Tri-Continental Co. (NYSE:TY) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,802 shares of the investment management company’s stock after selling 440 shares during the quarter. Altus Wealth Group LLC’s holdings in Tri-Continental were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC bought a new position in Tri-Continental in the third quarter valued at approximately $7,366,000. Walleye Capital LLC bought a new position in shares of Tri-Continental in the third quarter valued at $269,000. Thrivent Financial for Lutherans increased its holdings in Tri-Continental by 8.1% during the third quarter. Thrivent Financial for Lutherans now owns 56,128 shares of the investment management company’s stock worth $1,855,000 after buying an additional 4,208 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Tri-Continental by 218.4% during the third quarter. JPMorgan Chase & Co. now owns 13,160 shares of the investment management company’s stock worth $435,000 after buying an additional 9,027 shares during the last quarter. Finally, Allworth Financial LP raised its position in Tri-Continental by 3.1% during the fourth quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock worth $509,000 after acquiring an additional 472 shares in the last quarter. Institutional investors own 10.22% of the company’s stock.

Insiders Place Their Bets

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the firm’s stock in a transaction 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 owns 101 shares of the company’s stock, valued at $3,154.23. This trade represents a 94.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.66% of the company’s stock.

Tri-Continental Price Performance

Shares of TY opened at $30.83 on Friday. The firm has a 50-day moving average of $32.11 and a 200-day moving average of $32.64. Tri-Continental Co. has a one year low of $29.17 and a one year high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors 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 yield of 3.59%. The ex-dividend date of this dividend is Tuesday, March 18th.

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.