ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) CFO Patrick Joseph Farrell bought 1,150 shares of the business's stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $21.04 per share, for a total transaction of $24,196.00. Following the transaction, the chief financial officer now owns 7,209 shares of the company's stock, valued at $151,677.36. This trade represents a 18.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
ArrowMark Financial Stock Performance
Shares of NASDAQ:BANX traded up $0.12 during trading on Friday, hitting $20.79. The company's stock had a trading volume of 8,316 shares, compared to its average volume of 20,287. The business has a 50 day moving average price of $21.07 and a two-hundred day moving average price of $20.81. ArrowMark Financial Corp. has a fifty-two week low of $17.91 and a fifty-two week high of $21.67.
ArrowMark Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be paid a $0.45 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.80 annualized dividend and a dividend yield of 8.66%.
Hedge Funds Weigh In On ArrowMark Financial
Several institutional investors have recently modified their holdings of the business. Principal Street Partners LLC acquired a new position in shares of ArrowMark Financial in the fourth quarter worth $261,000. Millennium Management LLC acquired a new position in shares of ArrowMark Financial during the fourth quarter worth $220,000. Stifel Financial Corp grew its stake in shares of ArrowMark Financial by 4.2% during the fourth quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company's stock worth $3,519,000 after purchasing an additional 6,683 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ArrowMark Financial during the fourth quarter worth $3,957,000. Finally, Everstar Asset Management LLC grew its stake in shares of ArrowMark Financial by 6.0% during the fourth quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company's stock worth $487,000 after purchasing an additional 1,321 shares in the last quarter. Institutional investors and hedge funds own 24.93% of the company's stock.
About ArrowMark Financial
(
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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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