ArrowMark Financial Corp. (NASDAQ:BANX) Declares $0.45 Quarterly Dividend

Key Points

• ArrowMark Financial Corp. has declared a quarterly dividend of $0.45 per share, which will be distributed to shareholders on September 29th to those on record as of September 22nd.
• This dividend represents an annualized yield of 7.9%, reflecting the company's commitment to returning value to its investors.
• As of the most recent trading day, ArrowMark Financial's stock opened at $22.85, showing a 1-year high of $23.67 and a low of $17.99.

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) declared a quarterly dividend on Friday, September 12th. Stockholders of record on Monday, September 22nd will be paid a dividend of 0.45 per share by the investment management company on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Monday, September 22nd.

ArrowMark Financial Price Performance

ArrowMark Financial stock traded down $0.23 during mid-day trading on Tuesday, reaching $21.84. 6,495 shares of the company were exchanged, compared to its average volume of 19,749. The company has a fifty day simple moving average of $20.94 and a 200-day simple moving average of $20.56. ArrowMark Financial has a 12 month low of $17.99 and a 12 month high of $23.67.

Institutional Investors Weigh In On ArrowMark Financial

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its holdings in shares of ArrowMark Financial by 3.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company's stock valued at $523,000 after purchasing an additional 899 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of ArrowMark Financial during the 4th quarter valued at $220,000. Round Rock Advisors LLC boosted its holdings in shares of ArrowMark Financial by 283.9% during the 1st quarter. Round Rock Advisors LLC now owns 163,933 shares of the investment management company's stock valued at $3,451,000 after acquiring an additional 121,233 shares in the last quarter. Noble Wealth Management PBC boosted its holdings in shares of ArrowMark Financial by 202.0% during the 1st quarter. Noble Wealth Management PBC now owns 50,121 shares of the investment management company's stock valued at $1,055,000 after acquiring an additional 33,522 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of ArrowMark Financial by 26.5% during the 2nd quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company's stock valued at $476,000 after acquiring an additional 4,762 shares in the last quarter. Institutional investors and hedge funds 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.