ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Update

Key Points

• ArrowMark Financial Corp. experienced a 35.1% decrease in short interest in August, falling from 34,200 shares to 22,200 shares.
• The company announced a special dividend of $0.40 per share, set to be paid on December 10th, with a record date of December 3rd.
• Institutional investors now hold approximately 24.93% of ArrowMark Financial's stock, with several firms significantly increasing their stakes in recent quarters.

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 22,200 shares, a decrease of 35.1% from the August 15th total of 34,200 shares. Based on an average daily volume of 17,800 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 17,800 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors have recently made changes to their positions in the stock. Round Rock Advisors LLC grew its holdings in ArrowMark Financial by 283.9% in the 1st quarter. Round Rock Advisors LLC now owns 163,933 shares of the investment management company's stock worth $3,451,000 after acquiring an additional 121,233 shares during the last quarter. Noble Wealth Management PBC grew its holdings in ArrowMark Financial by 202.0% in the 1st quarter. Noble Wealth Management PBC now owns 50,121 shares of the investment management company's stock worth $1,055,000 after acquiring an additional 33,522 shares during the last quarter. Marshall Wace LLP bought a new stake in ArrowMark Financial in the 2nd quarter worth $386,000. Everstar Asset Management LLC grew its holdings in ArrowMark Financial by 68.7% in the 2nd quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company's stock worth $846,000 after acquiring an additional 16,457 shares during the last quarter. Finally, Principal Street Partners LLC bought a new stake in ArrowMark Financial in the 4th quarter worth $261,000. Institutional investors own 24.93% of the company's stock.

ArrowMark Financial Price Performance

Shares of NASDAQ:BANX traded up $0.66 during trading on Friday, reaching $22.81. The company had a trading volume of 49,403 shares, compared to its average volume of 19,591. The company has a fifty day moving average of $20.87 and a two-hundred day moving average of $20.55. ArrowMark Financial has a 12 month low of $17.99 and a 12 month high of $23.67.

ArrowMark Financial Announces Dividend

The business also recently declared a special dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, December 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a dividend yield of 810.0%.

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.