Platform Technology Partners Raises Stake in Tri-Continental Co. (NYSE:TY)

Platform Technology Partners raised its holdings in Tri-Continental Co. (NYSE:TY) by 69.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,531 shares of the investment management company’s stock after purchasing an additional 39,819 shares during the quarter. Tri-Continental comprises approximately 0.9% of Platform Technology Partners’ portfolio, making the stock its 23rd largest holding. Platform Technology Partners’ holdings in Tri-Continental were worth $3,091,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TY. Northwestern Mutual Wealth Management Co. grew its position in Tri-Continental by 19.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after buying an additional 579 shares during the last quarter. US Bancorp DE lifted its stake in shares of Tri-Continental by 16.4% in the 3rd quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock worth $187,000 after acquiring an additional 796 shares during the period. Walleye Capital LLC purchased a new stake in shares of Tri-Continental in the third quarter valued at about $269,000. Crews Bank & Trust acquired a new position in shares of Tri-Continental during the fourth quarter worth about $270,000. Finally, Janney Montgomery Scott LLC raised its holdings in Tri-Continental by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company’s stock worth $345,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.4 %

Shares of TY opened at $32.57 on Friday. The stock’s 50 day moving average is $32.47 and its two-hundred day moving average is $32.53. Tri-Continental Co. has a twelve month low of $29.01 and a twelve month high of $34.82.

Tri-Continental Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 13th were issued a dividend of $0.285 per share. This represents a yield of 3.3%. The ex-dividend date was Friday, December 13th.

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.