Patrick Joseph Farrell Purchases 1,150 Shares of ArrowMark Financial Corp. (NASDAQ:BANX) Stock

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell purchased 1,150 shares of ArrowMark Financial stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $21.04 per share, for a total transaction of $24,196.00. Following the completion of the transaction, the chief financial officer now directly owns 7,209 shares of the company’s stock, valued at approximately $151,677.36. The trade was a 18.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ArrowMark Financial Trading Up 0.6 %

Shares of NASDAQ BANX opened at $21.40 on Thursday. ArrowMark Financial Corp. has a one year low of $17.91 and a one year high of $21.67. The firm’s 50 day simple moving average is $21.07 and its two-hundred day simple moving average is $20.81.

ArrowMark Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.41%. The ex-dividend date is Thursday, March 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BANX. Trust Co. of Vermont bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $58,000. Millennium Management LLC bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $220,000. Principal Street Partners LLC bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $261,000. Noble Wealth Management PBC bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $348,000. Finally, Falcon Wealth Planning grew its holdings in shares of ArrowMark Financial by 15.3% in the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock worth $396,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Company Profile

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.