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

Platform Technology Partners raised its position in Tri-Continental Co. (NYSE:TY) by 69.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,531 shares of the investment management company’s stock after purchasing an additional 39,819 shares during the period. Tri-Continental accounts for 0.9% of Platform Technology Partners’ investment portfolio, making the stock its 23rd largest holding. Platform Technology Partners owned approximately 0.18% of Tri-Continental worth $3,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Tri-Continental by 19.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,577 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE lifted its position in shares of Tri-Continental by 16.4% during the 3rd quarter. US Bancorp DE now owns 5,648 shares of the investment management company’s stock worth $187,000 after buying an additional 796 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Tri-Continental in the 3rd quarter valued at $269,000. Crews Bank & Trust purchased a new position in shares of Tri-Continental in the 4th quarter valued at $270,000. Finally, Janney Montgomery Scott LLC raised its stake in Tri-Continental by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,876 shares of the investment management company’s stock worth $345,000 after acquiring an additional 507 shares in the last quarter. 10.22% of the stock is currently owned by institutional investors and hedge funds.

Tri-Continental Stock Performance

NYSE TY opened at $32.57 on Friday. The company has a fifty day moving average of $32.47 and a two-hundred day moving average of $32.53. Tri-Continental Co. has a 1 year low of $29.01 and a 1 year high of $34.82.

Tri-Continental Cuts Dividend

The company also recently announced a — dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 13th were given a $0.285 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a dividend yield of 3.3%.

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.