Whitener Capital Management Inc. Grows Stake in Tri-Continental Co. (NYSE:TY)

Whitener Capital Management Inc. grew its stake in shares of Tri-Continental Co. (NYSE:TY) by 5.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,576 shares of the investment management company’s stock after acquiring an additional 1,684 shares during the period. Whitener Capital Management Inc. owned about 0.07% of Tri-Continental worth $975,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Tri-Continental by 4.8% in the fourth quarter. Morgan Stanley now owns 697,482 shares of the investment management company’s stock worth $17,877,000 after purchasing an additional 31,678 shares in the last quarter. Bard Financial Services Inc. lifted its position in shares of Tri-Continental by 0.4% during the first quarter. Bard Financial Services Inc. now owns 621,189 shares of the investment management company’s stock worth $16,493,000 after acquiring an additional 2,241 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Tri-Continental by 1.5% in the first quarter. Lazard Asset Management LLC now owns 451,748 shares of the investment management company’s stock worth $13,931,000 after acquiring an additional 6,840 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Tri-Continental by 7.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 398,546 shares of the investment management company’s stock valued at $10,581,000 after purchasing an additional 27,100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Tri-Continental by 1.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 253,926 shares of the investment management company’s stock valued at $6,742,000 after purchasing an additional 4,764 shares during the period. Hedge funds and other institutional investors own 9.75% of the company’s stock.

Tri-Continental Stock Down 0.4 %

NYSE TY traded down $0.11 during trading hours on Tuesday, hitting $27.16. The company had a trading volume of 67,903 shares, compared to its average volume of 51,740. The firm has a 50 day simple moving average of $27.72 and a 200 day simple moving average of $26.93. Tri-Continental Co. has a 52 week low of $25.23 and a 52 week high of $28.55.

Tri-Continental Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, September 11th will be paid a dividend of $0.2607 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.04 annualized dividend and a yield of 3.84%.

Insider Buying and Selling

In other Tri-Continental news, Portfolio Manager Raghavendran Sivaraman acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was bought at an average price of $27.07 per share, with a total value of $81,210.00. Following the completion of the purchase, the portfolio manager now owns 3,000 shares of the company’s stock, valued at $81,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.66% of the stock is currently owned by insiders.

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.