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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 52,318 shares, a growth of 103.2% from the May 14th total of 25,747 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 52,970 shares, the short-interest ratio is currently 1.0 days.

ArrowMark Financial Stock Down 0.2%

Shares of NASDAQ BANX traded down $0.03 during trading hours on Friday, reaching $19.38. The stock had a trading volume of 22,585 shares, compared to its average volume of 39,641. The business’s fifty day moving average price is $19.61 and its two-hundred day moving average price is $20.37. ArrowMark Financial has a 52-week low of $18.45 and a 52-week high of $23.67.

ArrowMark Financial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a $0.15 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Institutional Trading of ArrowMark Financial

Large investors have recently modified their holdings of the company. Closed End Fund Advisors Inc. purchased a new stake in shares of ArrowMark Financial in the fourth quarter valued at approximately $1,513,000. Everstar Asset Management LLC boosted its holdings in shares of ArrowMark Financial by 4.5% in the fourth quarter. Everstar Asset Management LLC now owns 46,192 shares of the investment management company’s stock valued at $1,000,000 after purchasing an additional 2,004 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of ArrowMark Financial by 36.9% in the fourth quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock valued at $1,022,000 after purchasing an additional 12,608 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of ArrowMark Financial by 0.8% in the third quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock valued at $3,925,000 after purchasing an additional 1,414 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of ArrowMark Financial by 488.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock valued at $17,632,000 after purchasing an additional 670,749 shares during the period. Hedge funds and other 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.