ArrowMark Financial (NASDAQ:BANX) Shares Pass Above 50 Day Moving Average – Time to Sell?

ArrowMark Financial Corp. (NASDAQ:BANX) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $20.82 and traded as high as $21.12. ArrowMark Financial shares last traded at $20.94, with a volume of 5,015 shares trading hands.

ArrowMark Financial Stock Performance

The stock’s 50-day moving average is $20.82 and its 200-day moving average is $20.19.

ArrowMark Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Thursday, December 26th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.61%. The ex-dividend date of this dividend was Thursday, December 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its holdings in shares of ArrowMark Financial by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock worth $461,000 after purchasing an additional 2,900 shares during the last quarter. Catalina Capital Group LLC bought a new position in ArrowMark Financial during the 3rd quarter valued at about $213,000. Falcon Wealth Planning boosted its position in ArrowMark Financial by 14.4% in the third 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 in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after buying an additional 14,768 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 1,496 shares during the last quarter. 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.