Lazard Asset Management LLC decreased its position in Tri-Continental Co. (NYSE:TY) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 484,275 shares of the investment management company’s stock after selling 17,400 shares during the quarter. Lazard Asset Management LLC owned 0.87% of Tri-Continental worth $13,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP increased its stake in Tri-Continental by 4.4% in the 4th quarter. First Trust Advisors LP now owns 80,687 shares of the investment management company’s stock worth $2,174,000 after acquiring an additional 3,379 shares during the last quarter. James Hambro & Partners bought a new stake in Tri-Continental in the 4th quarter worth approximately $162,000. Evermay Wealth Management LLC bought a new stake in Tri-Continental in the 4th quarter worth approximately $200,000. Nicolet Bankshares Inc. bought a new stake in Tri-Continental in the 4th quarter worth approximately $205,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Tri-Continental in the 3rd quarter worth approximately $201,000. 10.86% of the stock is currently owned by institutional investors and hedge funds.
Tri-Continental Co. (NYSE TY) traded down $0.15 during trading hours on Wednesday, reaching $27.23. The company’s stock had a trading volume of 36,155 shares, compared to its average volume of 78,509. Tri-Continental Co. has a 1-year low of $22.63 and a 1-year high of $28.32.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, March 21st.
In related news, Director Pamela G. Carlton bought 2,100 shares of the company’s stock in a transaction dated Tuesday, April 10th. The stock was purchased at an average price of $15.55 per share, for a total transaction of $32,655.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.66% of the stock is currently owned by insiders.
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Tri-Continental Company Profile
Tri-Continental Corporation (the Fund) is a diversified, closed-end management investment company. The Fund’s objective is to produce future growth of both capital and income while providing reasonable current incomes. The Fund’s permissible investments include preferred and common stocks, convertible securities, including convertible preferred stocks and convertible bonds, debt securities, repurchase agreements, derivatives, including options, futures contracts and equity-linked notes, illiquid securities and securities of foreign issuers, including emerging markets issuers.
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