ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Increase in Short Interest

Key Points

• Short interest surged by 99.4% in March to 20,451 shares (about 0.3% of shares outstanding), with a very low short-interest ratio of 0.6 days based on average daily volume.
• ArrowMark paid a monthly dividend of $0.15 per share on March 31, implying an annualized dividend yield of about 9.2%.
• Institutional ownership stands at roughly 24.93%, with several managers initiating positions and Oppenheimer & Co. increasing its stake by 39.3% to 22,293 shares.

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 20,451 shares, an increase of 99.4% from the March 15th total of 10,256 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 36,007 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC acquired a new position in shares of ArrowMark Financial during the 3rd quarter worth approximately $204,000. Private Advisor Group LLC acquired a new position in shares of ArrowMark Financial during the 3rd quarter worth approximately $205,000. Accurate Wealth Management LLC acquired a new position in shares of ArrowMark Financial during the 3rd quarter worth approximately $311,000. Marshall Wace LLP acquired a new position in shares of ArrowMark Financial during the 2nd quarter worth approximately $386,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of ArrowMark Financial by 39.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company's stock worth $489,000 after purchasing an additional 6,284 shares during the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

Shares of ArrowMark Financial stock opened at $19.48 on Friday. The stock's 50 day simple moving average is $19.60 and its 200-day simple moving average is $20.93. ArrowMark Financial has a 1-year low of $18.37 and a 1-year high of $23.67.

ArrowMark Financial Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a dividend of $0.15 per share. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date was Monday, March 23rd.

ArrowMark Financial Company Profile

ArrowMark Financial Corporation NASDAQ: BANX is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.

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