ArrowMark Financial (NASDAQ:BANX) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Technical breach: Shares slipped below the 200-day moving average, trading as low as $19.37 and last at $19.43 versus a 200-day MA of $20.95 (50-day MA $19.64) on volume of about 29,186 shares.
• High monthly dividend: ArrowMark paid a $0.15 monthly dividend (ex-dividend and record dates in late March), implying an annualized yield of roughly 9.3%.
• Notable institutional moves: ArrowMark Colorado Holdings LLC boosted its stake by 488.4% to 808,076 shares, and institutional investors collectively own about 24.93% of the company.

Shares of ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.95 and traded as low as $19.37. ArrowMark Financial shares last traded at $19.43, with a volume of 29,186 shares.

ArrowMark Financial Stock Performance

The company has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $20.95.

ArrowMark Financial Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a c) annualized dividend and a yield of 9.3%.

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds have recently added to or reduced their stakes in BANX. ArrowMark Colorado Holdings LLC lifted its stake in ArrowMark Financial by 488.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company's stock worth $17,632,000 after purchasing an additional 670,749 shares during the last quarter. Closed End Fund Advisors Inc. bought a new stake in ArrowMark Financial during the fourth quarter worth about $1,513,000. Marshall Wace LLP bought a new stake in ArrowMark Financial during the second quarter worth about $386,000. Accurate Wealth Management LLC bought a new stake in ArrowMark Financial during the third quarter worth about $311,000. Finally, Osaic Holdings Inc. lifted its stake in ArrowMark Financial by 36.9% during the fourth quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company's stock worth $1,022,000 after purchasing an additional 12,608 shares during the last quarter. Institutional investors own 24.93% of the company's stock.

ArrowMark Financial Company Profile

ArrowMark Financial Corporation NASDAQ: BANX is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.

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