ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 24,100 shares, an increase of 33.9% from the December 31st total of 18,000 shares. Based on an average daily volume of 22,600 shares, the days-to-cover ratio is presently 1.1 days.
Insider Buying and Selling
In related news, Director John Scott Emrich sold 2,500 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the transaction, the director now owns 6,225 shares in the company, valued at $132,468. The trade was a 28.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ArrowMark Financial
Institutional investors and hedge funds have recently made changes to their positions in the business. Round Rock Advisors LLC purchased a new position in shares of ArrowMark Financial during the 4th quarter valued at $896,000. Falcon Wealth Planning raised its position in shares of ArrowMark Financial by 15.3% during the fourth 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. Trust Co. of Vermont purchased a new stake in ArrowMark Financial in the 4th quarter worth $58,000. Oppenheimer & Co. Inc. boosted its stake in ArrowMark Financial by 15.0% during the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company's stock valued at $461,000 after buying an additional 2,900 shares during the last quarter. Finally, Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial in the 3rd quarter worth $213,000. Hedge funds and other institutional investors own 24.93% of the company's stock.
ArrowMark Financial Stock Performance
ArrowMark Financial stock traded up $0.32 on Tuesday, hitting $21.27. 12,088 shares of the stock traded hands, compared to its average volume of 16,637. The business's fifty day simple moving average is $20.95 and its 200 day simple moving average is $20.47. ArrowMark Financial has a 1 year low of $17.91 and a 1 year high of $21.67.
ArrowMark Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Thursday, December 26th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.46%. The ex-dividend date was Thursday, December 26th.
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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