Bard Financial Services Inc. Has $13.61 Million Stake in Tri-Continental Co. (NYSE:TY)

Bard Financial Services Inc. cut its holdings in shares of Tri-Continental Co. (NYSE:TY) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,834 shares of the investment management company’s stock after selling 21,550 shares during the period. Tri-Continental comprises approximately 1.7% of Bard Financial Services Inc.’s investment portfolio, making the stock its 9th biggest position. Bard Financial Services Inc. owned 0.82% of Tri-Continental worth $13,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in Tri-Continental by 22.7% during the fourth quarter. Cetera Investment Advisers now owns 25,483 shares of the investment management company’s stock worth $808,000 after purchasing an additional 4,717 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Tri-Continental by 3.5% during the fourth quarter. Ameriprise Financial Inc. now owns 11,849 shares of the investment management company’s stock worth $375,000 after buying an additional 402 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Tri-Continental by 5.6% during the fourth quarter. Bank of America Corp DE now owns 46,149 shares of the investment management company’s stock worth $1,462,000 after buying an additional 2,464 shares in the last quarter. MSH Capital Advisors LLC acquired a new position in shares of Tri-Continental during the fourth quarter worth $348,000. Finally, Allworth Financial LP increased its holdings in shares of Tri-Continental by 3.1% during the fourth quarter. Allworth Financial LP now owns 15,585 shares of the investment management company’s stock worth $509,000 after buying an additional 472 shares in the last quarter. 10.22% of the stock is currently owned by institutional investors.

Tri-Continental Trading Up 0.7%

Shares of NYSE:TY opened at $31.88 on Wednesday. The company has a fifty day moving average of $30.03 and a 200-day moving average of $31.43. Tri-Continental Co. has a 52-week low of $26.54 and a 52-week high of $34.82.

Tri-Continental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, June 16th. This is an increase from Tri-Continental’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.64%.

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.