Tri-Continental Co. (NYSE:TY) Shares Sold by AQR Arbitrage LLC

AQR Arbitrage LLC cut its stake in shares of Tri-Continental Co. (NYSE:TY) by 41.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,920 shares of the investment management company’s stock after selling 23,272 shares during the quarter. AQR Arbitrage LLC owned 0.06% of Tri-Continental worth $1,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new position in Tri-Continental in the fourth quarter worth $35,000. Anchor Investment Management LLC acquired a new position in shares of Tri-Continental during the 4th quarter worth $63,000. Comerica Bank increased its holdings in shares of Tri-Continental by 103.9% in the 4th quarter. Comerica Bank now owns 2,551 shares of the investment management company’s stock valued at $81,000 after purchasing an additional 1,300 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Tri-Continental in the fourth quarter valued at about $96,000. Finally, Mezzasalma Advisors LLC purchased a new stake in Tri-Continental during the fourth quarter worth about $206,000. 10.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Tri-Continental news, Director Pamela G. Carlton sold 1,815 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.23, for a total transaction of $56,682.45. Following the sale, the director now owns 101 shares in the company, valued at approximately $3,154.23. This represents a 94.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.66% of the company’s stock.

Tri-Continental Trading Up 1.3 %

TY stock opened at $30.15 on Friday. The firm has a 50 day moving average of $30.04 and a 200-day moving average of $31.90. Tri-Continental Co. has a 12-month low of $26.54 and a 12-month high of $34.82.

Tri-Continental Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 18th were issued a $0.2766 dividend. This represents a $1.11 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, March 18th.

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.