ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Decrease in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 21,900 shares, a drop of 18.3% from the March 15th total of 26,800 shares. Based on an average daily volume of 21,100 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.3% of the shares of the company are short sold.

Insider Activity

In related news, Director John Scott Emrich sold 2,500 shares of ArrowMark Financial stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $21.28, for a total value of $53,200.00. Following the sale, the director now owns 6,225 shares of the company's stock, valued at approximately $132,468. The trade was a 28.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,000 shares of company stock valued at $84,810 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont purchased a new position in ArrowMark Financial during the 4th quarter valued at about $58,000. Falcon Wealth Planning grew its position in ArrowMark Financial by 15.3% during the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company's stock worth $396,000 after buying an additional 2,500 shares in the last quarter. Round Rock Advisors LLC bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $896,000. Oppenheimer & Co. Inc. raised its position in shares of ArrowMark Financial by 7.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company's stock valued at $502,000 after buying an additional 1,655 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in ArrowMark Financial during the fourth quarter worth about $348,000. 24.93% of the stock is owned by institutional investors.

ArrowMark Financial Stock Performance

NASDAQ:BANX traded down $0.18 during trading hours on Thursday, reaching $20.12. The stock had a trading volume of 24,775 shares, compared to its average volume of 21,250. ArrowMark Financial has a 12-month low of $17.91 and a 12-month high of $21.67. The stock has a 50 day simple moving average of $20.51 and a 200 day simple moving average of $20.70.

ArrowMark Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 8.95%.

ArrowMark Financial Company Profile

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.