ArrowMark Financial (NASDAQ:BANX) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• ArrowMark Financial's stock price fell below its 200-day moving average of $20.51, trading at $20.53 with a volume of 35,291 shares.
• The company recently declared a quarterly dividend of $0.45, equating to an annualized dividend of $1.80 and a yield of 8.8%.
• Institutional investors control 24.93% of ArrowMark Financial's stock, with several firms making significant changes to their positions in the company during recent quarters.

Shares of ArrowMark Financial Corp. (NASDAQ:BANX - ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.51 and traded as low as $20.50. ArrowMark Financial shares last traded at $20.53, with a volume of 35,291 shares changing hands.

ArrowMark Financial Stock Performance

The stock's 50 day moving average price is $20.72 and its two-hundred day moving average price is $20.51.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Monday, June 23rd.

Institutional Trading of ArrowMark Financial

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in ArrowMark Financial during the 4th quarter worth about $220,000. Principal Street Partners LLC acquired a new stake in shares of ArrowMark Financial during the 4th quarter worth about $261,000. Catalina Capital Group LLC grew its holdings 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 worth $328,000 after buying an additional 5,354 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of ArrowMark Financial during the second quarter worth about $386,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of ArrowMark Financial by 3.8% in the first quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company's stock valued at $523,000 after buying an additional 899 shares during the last quarter. Institutional investors and hedge funds own 24.93% of the company's stock.

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.

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