Raymond James Financial Inc. bought a new stake in ArrowMark Financial Corp. (NASDAQ:BANX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 188,570 shares of the investment management company's stock, valued at approximately $3,957,000. Raymond James Financial Inc. owned about 2.63% of ArrowMark Financial as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Round Rock Advisors LLC purchased a new stake in shares of ArrowMark Financial in the 4th quarter valued at $896,000. Noble Wealth Management PBC acquired a new stake in ArrowMark Financial during the 4th quarter worth about $348,000. Trust Co. of Vermont purchased a new position in shares of ArrowMark Financial during the 4th quarter valued at about $58,000. Falcon Wealth Planning raised its stake in shares of ArrowMark Financial by 15.3% during the 4th quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company's stock valued at $396,000 after buying an additional 2,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings 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 valued at $502,000 after buying an additional 1,655 shares during the period. Institutional investors and hedge funds own 24.93% of the company's stock.
ArrowMark Financial Stock Up 0.3 %
BANX stock traded up $0.06 during trading on Friday, hitting $20.07. 2,934 shares of the company traded hands, compared to its average volume of 21,191. ArrowMark Financial Corp. has a 1 year low of $17.91 and a 1 year high of $21.67. The stock's 50-day simple moving average is $20.39 and its 200 day simple moving average is $20.69.
ArrowMark Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 yield of 8.97%. The ex-dividend date was Thursday, March 20th.
ArrowMark Financial Company Profile
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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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