Oppenheimer & Co. Inc. Boosts Stake in Tri-Continental Co. (NYSE:TY)

Oppenheimer & Co. Inc. lifted its holdings in Tri-Continental Co. (NYSE:TYGet Rating) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,099 shares of the investment management company’s stock after purchasing an additional 1,713 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tri-Continental were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. BNP Paribas Arbitrage SA bought a new stake in shares of Tri-Continental in the first quarter worth $25,000. Charter Oak Capital Management LLC bought a new stake in shares of Tri-Continental in the second quarter worth $61,000. Brown Brothers Harriman & Co. grew its holdings in shares of Tri-Continental by 4,484.0% in the first quarter. Brown Brothers Harriman & Co. now owns 4,584 shares of the investment management company’s stock worth $141,000 after acquiring an additional 4,484 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Tri-Continental in the first quarter worth $184,000. Finally, Allworth Financial LP bought a new stake in shares of Tri-Continental in the second quarter worth $194,000. Hedge funds and other institutional investors own 10.10% of the company’s stock.

Tri-Continental Stock Up 0.4 %

Shares of TY opened at $27.28 on Friday. Tri-Continental Co. has a one year low of $25.23 and a one year high of $35.91. The business has a fifty day moving average of $26.66 and a 200 day moving average of $27.48.

Tri-Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Monday, December 12th will be issued a $0.886 dividend. The ex-dividend date is Friday, December 9th. This represents a $3.54 annualized dividend and a dividend yield of 12.99%. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.27.

About Tri-Continental

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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.

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Institutional Ownership by Quarter for Tri-Continental (NYSE:TY)

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