ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Update

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 18,400 shares, a growth of 10.8% from the November 30th total of 16,600 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On ArrowMark Financial

A number of institutional investors and hedge funds have recently made changes to their positions in BANX. Capital Investment Advisors LLC raised its position in ArrowMark Financial by 4.4% in the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after purchasing an additional 1,496 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of ArrowMark Financial by 15.0% in the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after buying an additional 2,900 shares in the last quarter. Falcon Wealth Planning raised its holdings in shares of ArrowMark Financial by 14.4% in the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after buying an additional 2,054 shares during the period. Pathway Financial Advisers LLC lifted its stake in ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after acquiring an additional 14,768 shares in the last quarter. Finally, Catalina Capital Group LLC purchased a new position in ArrowMark Financial during the 3rd quarter valued at about $213,000. 24.93% of the stock is owned by hedge funds and other institutional investors.

ArrowMark Financial Stock Performance

Shares of ArrowMark Financial stock traded up $0.14 during trading hours on Wednesday, hitting $20.98. The company’s stock had a trading volume of 17,154 shares, compared to its average volume of 19,142. The firm has a fifty day moving average of $20.77 and a 200-day moving average of $20.10. ArrowMark Financial has a twelve month low of $17.81 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 Friday, January 3rd. Shareholders of record on Thursday, December 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date is Thursday, December 26th.

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.