ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Update

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 5,700 shares, a growth of 29.5% from the March 31st total of 4,400 shares. Based on an average daily volume of 14,900 shares, the short-interest ratio is presently 0.4 days.

ArrowMark Financial Trading Up 0.2 %

Shares of BANX traded up $0.04 during trading hours on Monday, reaching $18.46. 6,244 shares of the company traded hands, compared to its average volume of 14,340. ArrowMark Financial has a 12 month low of $13.80 and a 12 month high of $19.50. The company’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $18.06.

ArrowMark Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 20th. This represents a $1.80 annualized dividend and a yield of 9.75%. This is a positive change from ArrowMark Financial’s previous quarterly dividend of $0.42.

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds have recently bought and sold shares of BANX. Cambridge Investment Research Advisors Inc. raised its holdings in ArrowMark Financial by 13.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,930 shares of the investment management company’s stock worth $366,000 after buying an additional 2,472 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in ArrowMark Financial by 4.0% in the fourth quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after buying an additional 1,250 shares during the last quarter. Punch & Associates Investment Management Inc. raised its holdings in ArrowMark Financial by 26.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 68,070 shares of the investment management company’s stock worth $1,191,000 after buying an additional 14,128 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in ArrowMark Financial by 16.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 205,626 shares of the investment management company’s stock worth $3,596,000 after buying an additional 29,184 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.

About ArrowMark Financial

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.