Landscape Capital Management L.L.C. Lowers Stock Holdings in Tri-Continental Co. (NYSE:TY)

Landscape Capital Management L.L.C. lessened its holdings in shares of Tri-Continental Co. (NYSE:TY) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,788 shares of the investment management company’s stock after selling 21,293 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Tri-Continental were worth $2,021,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Tri-Continental during the fourth quarter worth about $10,315,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Tri-Continental during the 3rd quarter worth about $7,366,000. EP Wealth Advisors LLC acquired a new stake in shares of Tri-Continental in the third quarter worth approximately $3,411,000. Platform Technology Partners grew its holdings in Tri-Continental by 69.0% in the fourth quarter. Platform Technology Partners now owns 97,531 shares of the investment management company’s stock valued at $3,091,000 after purchasing an additional 39,819 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Tri-Continental by 95.3% during the fourth quarter. Concurrent Investment Advisors LLC now owns 59,871 shares of the investment management company’s stock worth $1,897,000 after purchasing an additional 29,212 shares during the last quarter. Institutional investors and hedge funds own 10.22% of the company’s stock.

Tri-Continental Trading Down 4.9 %

Shares of TY opened at $28.14 on Friday. Tri-Continental Co. has a fifty-two week low of $27.91 and a fifty-two week high of $34.82. The company’s fifty day moving average is $31.67 and its two-hundred day moving average is $32.49.

Tri-Continental Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.2766 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Tuesday, March 18th.

Insiders Place Their Bets

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.23, for a total transaction of $56,682.45. Following the completion of the sale, the director now directly owns 101 shares in the company, valued at $3,154.23. The trade was a 94.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.66% of the stock is currently owned by insiders.

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.