Altus Wealth Group LLC Has $1.12 Million Stake in Tri-Continental Co. (NYSE:TY)

Altus Wealth Group LLC increased its position in shares of Tri-Continental Co. (NYSE:TY) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,024 shares of the investment management company’s stock after purchasing an additional 2,825 shares during the period. Altus Wealth Group LLC owned approximately 0.07% of Tri-Continental worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TY. Shaker Financial Services LLC grew its stake in shares of Tri-Continental by 36.6% in the second quarter. Shaker Financial Services LLC now owns 94,909 shares of the investment management company’s stock valued at $2,939,000 after acquiring an additional 25,434 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of Tri-Continental by 85.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 53,133 shares of the investment management company’s stock worth $1,646,000 after purchasing an additional 24,427 shares in the last quarter. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Tri-Continental during the second quarter worth approximately $1,771,000. Concurrent Investment Advisors LLC raised its position in shares of Tri-Continental by 19.9% in the second quarter. Concurrent Investment Advisors LLC now owns 29,338 shares of the investment management company’s stock valued at $909,000 after buying an additional 4,869 shares in the last quarter. Finally, First Merchants Corp bought a new stake in shares of Tri-Continental in the second quarter valued at approximately $855,000. 10.22% of the stock is owned by institutional investors and hedge funds.

Tri-Continental Stock Up 0.2 %

Shares of NYSE TY opened at $31.97 on Friday. Tri-Continental Co. has a fifty-two week low of $25.16 and a fifty-two week high of $32.39. The business has a fifty day moving average price of $31.44 and a two-hundred day moving average price of $30.65.

Tri-Continental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be issued a $0.291 dividend. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, September 13th.

About Tri-Continental

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.