Tandem Capital Management Corp ADV acquired a new position in Tri-Continental Co. (NYSE:TY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,566 shares of the investment management company’s stock, valued at approximately $408,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Bard Financial Services Inc. bought a new stake in Tri-Continental in the 4th quarter worth about $15,717,000. Wells Fargo & Company MN raised its position in shares of Tri-Continental by 86.4% during the 4th quarter. Wells Fargo & Company MN now owns 451,052 shares of the investment management company’s stock valued at $13,293,000 after buying an additional 209,130 shares in the last quarter. Stifel Financial Corp raised its position in shares of Tri-Continental by 30.9% during the 4th quarter. Stifel Financial Corp now owns 164,778 shares of the investment management company’s stock valued at $4,856,000 after buying an additional 38,872 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Tri-Continental by 56.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 53,138 shares of the investment management company’s stock valued at $1,566,000 after buying an additional 19,127 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Tri-Continental during the 4th quarter valued at $390,000. Institutional investors and hedge funds own 10.10% of the company’s stock.
Shares of TY stock traded down $0.03 on Friday, hitting $34.88. 407 shares of the company’s stock traded hands, compared to its average volume of 41,395. Tri-Continental Co. has a one year low of $24.11 and a one year high of $34.96. The firm’s fifty day moving average is $33.84.
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.
Read More: Hold Rating
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