Platform Technology Partners Acquires Shares of 57,712 Tri-Continental Co. (NYSE:TY)

Platform Technology Partners purchased a new stake in Tri-Continental Co. (NYSE:TY) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 57,712 shares of the investment management company’s stock, valued at approximately $1,907,000.

A number of other institutional investors have also recently made changes to their positions in TY. Oppenheimer & Co. Inc. bought a new position in shares of Tri-Continental in the 1st quarter valued at about $324,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Tri-Continental by 2.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 24,469 shares of the investment management company’s stock valued at $754,000 after acquiring an additional 620 shares during the last quarter. Choate Investment Advisors bought a new position in shares of Tri-Continental in the 1st quarter valued at about $213,000. NorthRock Partners LLC bought a new position in shares of Tri-Continental in the 1st quarter valued at about $369,000. Finally, Motco bought a new position in shares of Tri-Continental in the 1st quarter valued at about $108,000. Institutional investors own 10.22% of the company’s stock.

Tri-Continental Stock Down 0.1 %

Shares of NYSE:TY opened at $34.06 on Tuesday. Tri-Continental Co. has a 12 month low of $26.54 and a 12 month high of $34.30. The company has a 50-day moving average price of $32.87 and a 200 day moving average price of $31.64.

Tri-Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were given a $0.291 dividend. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Friday, September 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.