ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 29,700 shares, a growth of 29.7% from the April 30th total of 22,900 shares. Based on an average daily volume of 22,200 shares, the short-interest ratio is currently 1.3 days. Approximately 0.4% of the company's shares are sold short.
Institutional Trading of ArrowMark Financial
Several institutional investors and hedge funds have recently modified their holdings of BANX. Round Rock Advisors LLC bought a new stake in ArrowMark Financial in the 4th quarter valued at $896,000. Oppenheimer & Co. Inc. grew its stake in shares of ArrowMark Financial by 7.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company's stock worth $502,000 after buying an additional 1,655 shares in the last quarter. Noble Wealth Management PBC purchased a new position in shares of ArrowMark Financial in the 4th quarter worth $348,000. Raymond James Financial Inc. purchased a new position in shares of ArrowMark Financial in the 4th quarter worth $3,957,000. Finally, Everstar Asset Management LLC grew its stake in shares of ArrowMark Financial by 6.0% in the 4th quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company's stock worth $487,000 after buying an additional 1,321 shares in the last quarter. 24.93% of the stock is currently owned by institutional investors.
ArrowMark Financial Stock Performance
Shares of NASDAQ:BANX traded up $0.36 during midday trading on Thursday, hitting $20.23. 14,412 shares of the stock traded hands, compared to its average volume of 21,389. The business's 50 day moving average is $19.94 and its two-hundred day moving average is $20.63. ArrowMark Financial has a one year low of $17.99 and a one year high of $21.67.
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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