Matisse Capital reduced its stake in shares of Tri-Continental Co. (NYSE:TY) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,400 shares of the investment management company’s stock after selling 24,381 shares during the period. Matisse Capital’s holdings in Tri-Continental were worth $1,250,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TY. Wells Fargo & Company MN lifted its stake in shares of Tri-Continental by 6.2% during the second quarter. Wells Fargo & Company MN now owns 200,033 shares of the investment management company’s stock worth $4,871,000 after buying an additional 11,678 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Tri-Continental during the second quarter worth $324,000. Advisor Group Inc. lifted its stake in shares of Tri-Continental by 262.1% during the second quarter. Advisor Group Inc. now owns 4,479 shares of the investment management company’s stock worth $110,000 after buying an additional 3,242 shares during the period. Stifel Financial Corp lifted its stake in shares of Tri-Continental by 17.0% during the second quarter. Stifel Financial Corp now owns 44,998 shares of the investment management company’s stock worth $1,094,000 after buying an additional 6,533 shares during the period. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of Tri-Continental during the second quarter worth $200,000. Institutional investors and hedge funds own 11.96% of the company’s stock.
Tri-Continental Co. (NYSE:TY) traded down $0.40 during trading hours on Tuesday, hitting $27.59. 108,272 shares of the stock traded hands, compared to its average volume of 79,359. Tri-Continental Co. has a 1-year low of $22.42 and a 1-year high of $28.32.
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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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