ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 21,900 shares, a decline of 18.3% from the March 15th total of 26,800 shares. Based on an average daily volume of 21,100 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.3% of the shares of the company are sold short.
Institutional Trading of ArrowMark Financial
A number of institutional investors and hedge funds have recently modified their holdings of BANX. Raymond James Financial Inc. bought a new position in ArrowMark Financial in the fourth quarter worth $3,957,000. Stifel Financial Corp lifted its holdings in shares of ArrowMark Financial by 4.2% during the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company's stock worth $3,519,000 after acquiring an additional 6,683 shares during the period. Noble Wealth Management PBC boosted its position 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. Round Rock Advisors LLC bought a new stake in ArrowMark Financial in the fourth quarter valued at about $896,000. Finally, Oppenheimer & Co. Inc. raised its position in ArrowMark Financial by 3.8% in the first quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company's stock worth $523,000 after purchasing an additional 899 shares in the last quarter. 24.93% of the stock is currently owned by institutional investors.
ArrowMark Financial Stock Down 1.4 %
Shares of NASDAQ BANX traded down $0.29 during mid-day trading on Friday, hitting $19.83. The company had a trading volume of 11,772 shares, compared to its average volume of 21,212. ArrowMark Financial has a 12 month low of $17.91 and a 12 month high of $21.67. The business's 50-day simple moving average is $20.49 and its 200-day simple moving average is $20.69.
ArrowMark Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th were given a $0.45 dividend. The ex-dividend date was Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.08%.
About ArrowMark Financial
(
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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.
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