Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Tri-Continental Co. (NYSE:TY) by 31.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,031 shares of the investment management company’s stock after buying an additional 489 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Tri-Continental were worth $53,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TY. C J Advisory Inc purchased a new position in Tri-Continental in the 1st quarter valued at approximately $43,000. Karp Capital Management Corp purchased a new position in Tri-Continental in the 4th quarter valued at approximately $50,000. Segall Bryant & Hamill LLC purchased a new position in Tri-Continental in the 4th quarter valued at approximately $201,000. Oppenheimer & Co. Inc. purchased a new position in Tri-Continental in the 1st quarter valued at approximately $212,000. Finally, First Republic Investment Management Inc. purchased a new position in Tri-Continental in the 1st quarter valued at approximately $218,000. 9.84% of the stock is owned by institutional investors and hedge funds.

NYSE TY opened at $26.80 on Friday. Tri-Continental Co. has a 1-year low of $21.83 and a 1-year high of $28.19.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 19th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, June 18th. This is a boost from Tri-Continental’s previous quarterly dividend of $0.24.

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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.

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

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