ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 25,747 shares, a growth of 88.2% from the April 30th total of 13,682 shares. Based on an average daily trading volume, of 41,591 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the company’s stock are sold short.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX opened at $19.76 on Thursday. The stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $20.45. ArrowMark Financial has a 52-week low of $18.45 and a 52-week high of $23.67.

ArrowMark Financial Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 22nd were given a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date was Friday, May 22nd.

Institutional Trading of ArrowMark Financial

A number of institutional investors and hedge funds have recently made changes to their positions in BANX. ArrowMark Colorado Holdings LLC raised its position in shares of ArrowMark Financial by 488.4% during the 4th 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 period. Closed End Fund Advisors Inc. acquired a new stake in shares of ArrowMark Financial during the 4th quarter worth approximately $1,513,000. Marshall Wace LLP acquired a new stake in shares of ArrowMark Financial during the 2nd quarter worth approximately $386,000. Osaic Holdings Inc. raised its position in shares of ArrowMark Financial by 36.9% during the 4th 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 period. Finally, Private Advisor Group LLC acquired a new stake in ArrowMark Financial in the 3rd quarter valued at approximately $205,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

About ArrowMark Financial

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.