Shares of ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $20.05 and traded as high as $20.56. ArrowMark Financial shares last traded at $19.89, with a volume of 30,459 shares trading hands.
ArrowMark Financial Stock Up 0.5%
The business has a 50 day simple moving average of $20.02 and a 200-day simple moving average of $20.64.
ArrowMark Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 20th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend was Thursday, March 20th.
Institutional Investors Weigh In On ArrowMark Financial
Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in shares of ArrowMark Financial during the fourth quarter valued at about $220,000. Principal Street Partners LLC bought a new stake in shares of ArrowMark Financial during the fourth quarter valued at about $261,000. Noble Wealth Management PBC bought a new stake in shares of ArrowMark Financial during the fourth quarter valued at about $348,000. Everstar Asset Management LLC raised its stake in shares of ArrowMark Financial by 6.0% during the fourth quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company's stock valued at $487,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of ArrowMark Financial by 7.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company's stock valued at $502,000 after purchasing an additional 1,655 shares in the last quarter. 24.93% of the stock is currently owned by institutional investors.
ArrowMark Financial Company Profile
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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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