ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Down 35.1% in August

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 - ) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 22,200 shares, a drop of 35.1% from the August 15th total of 34,200 shares. Based on an average daily trading volume, of 17,800 shares, the short-interest ratio is presently 1.2 days. Approximately 0.3% of the company's shares are short sold. Approximately 0.3% of the company's shares are short sold. Based on an average daily trading volume, of 17,800 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in shares of ArrowMark Financial in the fourth quarter valued at about $220,000. Principal Street Partners LLC acquired a new stake in ArrowMark Financial in the fourth quarter valued at approximately $261,000. Catalina Capital Group LLC raised its stake in shares of ArrowMark Financial by 51.9% during the second quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company's stock valued at $328,000 after purchasing an additional 5,354 shares during the period. Marshall Wace LLP acquired a new position in shares of ArrowMark Financial during the second quarter worth $386,000. Finally, Osaic Holdings Inc. boosted its stake in shares of ArrowMark Financial by 26.5% in the second quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company's stock valued at $476,000 after purchasing an additional 4,762 shares during the period. Hedge funds and other institutional investors own 24.93% of the company's stock.

ArrowMark Financial Trading Up 0.5%

BANX opened at $21.39 on Monday. ArrowMark Financial has a 52-week low of $17.99 and a 52-week high of $21.67. The company has a 50 day moving average of $20.78 and a two-hundred day moving average of $20.52.

ArrowMark Financial Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, December 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.