ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report)'s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $20.15 and traded as high as $20.49. ArrowMark Financial shares last traded at $20.32, with a volume of 12,555 shares changing hands.
ArrowMark Financial Stock Down 1.8%
The stock has a 50-day simple moving average of $20.11 and a 200 day simple moving average of $20.66.
ArrowMark Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend was Thursday, March 20th.
Institutional Trading of ArrowMark Financial
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Round Rock Advisors LLC lifted its stake in ArrowMark Financial by 283.9% during the first quarter. Round Rock Advisors LLC now owns 163,933 shares of the investment management company's stock worth $3,451,000 after purchasing an additional 121,233 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of ArrowMark Financial by 3.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company's stock worth $523,000 after buying an additional 899 shares in the last quarter. Noble Wealth Management PBC raised its holdings in shares of 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 buying an additional 33,522 shares in the last quarter. Principal Street Partners LLC bought a new position in shares of ArrowMark Financial during the 4th quarter worth approximately $261,000. Finally, Millennium Management LLC bought a new position in shares of ArrowMark Financial during the 4th quarter worth approximately $220,000. Institutional investors own 24.93% of the company's stock.
About ArrowMark Financial
(
Get Free Report)
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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