Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Grows By 28.0%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 15,100 shares, an increase of 28.0% from the August 31st total of 11,800 shares. Based on an average daily trading volume, of 21,400 shares, the days-to-cover ratio is currently 0.7 days.

ArrowMark Financial Stock Performance

NASDAQ:BANX traded up $0.40 during trading hours on Friday, reaching $20.70. 15,049 shares of the company were exchanged, compared to its average volume of 17,466. The stock’s 50-day moving average is $20.02 and its 200-day moving average is $19.07. ArrowMark Financial has a twelve month low of $16.28 and a twelve month high of $21.67.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Thursday, September 26th.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors have recently bought and sold shares of BANX. Oppenheimer & Co. Inc. purchased a new position in shares of ArrowMark Financial in the first quarter valued at approximately $340,000. Capital Investment Advisors LLC lifted its holdings in ArrowMark Financial by 3.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock valued at $631,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Falcon Wealth Planning purchased a new position in ArrowMark Financial in the 2nd quarter valued at $264,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

About ArrowMark Financial

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.