Allspring Global Investments Holdings LLC Reduces Stake in Tri-Continental Co.

Allspring Global Investments Holdings LLC has made significant changes to its investment portfolio regarding Tri-Continental Co. (NYSE:TY). According to the firm's recent Form 13F filing with the Securities and Exchange Commission (SEC), Allspring Global reduced its holdings by 38.2% during the fourth quarter. After selling 168,718 shares, the firm now holds a total of 273,012 shares in the investment management company. The value of Allspring's holdings in Tri-Continental stood at approximately $8,652,000 as reported in its latest SEC filing.

Other hedge funds have also engaged in trading shares of Tri-Continental. One notable move was by US Bancorp DE, which increased its holdings by 16.4% during the third quarter. Following its acquisition of an additional 796 shares during that period, US Bancorp DE now owns a total of 5,648 shares, worth around $187,000. Mezzasalma Advisors LLC made a new investment during the fourth quarter, with its stake valued at $206,000. Similar new stakes were also established by Walleye Capital LLC during the third quarter ($269,000), Crews Bank & Trust in the fourth quarter ($270,000), and JSF Financial LLC, which acquired a position valued at approximately $310,000 in the same quarter. Currently, institutional investors hold about 10.22% of the stock.

Tri-Continental Stock Performance

As of Wednesday, Tri-Continental stock opened at $32.85. It has experienced fluctuations over the past year, with a 52-week low of $29.12 and a high of $34.82. The 50-day simple moving average for the stock is $32.20, while the 200-day simple moving average is $32.60.

Tri-Continental Company Overview

Tri-Continental Corporation operates as a closed-ended equity mutual fund, managed by Columbia Management Investment Advisers, LLC. The firm primarily invests in public equity markets within the United States, targeting stocks in various diversified sectors, with a focus on large-cap companies.

investment, holding, reduction