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

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 19,500 shares, a decrease of 19.1% from the January 15th total of 24,100 shares. Based on an average daily trading volume, of 19,500 shares, the short-interest ratio is presently 1.0 days.

Insider Buying and Selling at ArrowMark Financial

In related news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $21.28, for a total value of $53,200.00. Following the completion of the transaction, the director now directly owns 6,225 shares of the company's stock, valued at $132,468. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Street Partners LLC bought a new stake in ArrowMark Financial during the fourth quarter valued at about $261,000. Millennium Management LLC bought a new stake in shares of ArrowMark Financial during the fourth quarter valued at approximately $220,000. Stifel Financial Corp lifted its holdings in shares of ArrowMark Financial by 4.2% in the fourth quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company's stock worth $3,519,000 after buying an additional 6,683 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ArrowMark Financial during the fourth quarter worth $3,957,000. Finally, Everstar Asset Management LLC increased its holdings in ArrowMark Financial by 6.0% in the 4th quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company's stock valued at $487,000 after acquiring an additional 1,321 shares during the last quarter. 24.93% of the stock is owned by hedge funds and other institutional investors.

ArrowMark Financial Price Performance

BANX traded down $0.07 during midday trading on Wednesday, reaching $21.12. The company's stock had a trading volume of 14,720 shares, compared to its average volume of 15,782. ArrowMark Financial has a 1 year low of $17.91 and a 1 year high of $21.67. The stock's 50-day moving average is $21.02 and its 200-day moving average is $20.62.

ArrowMark Financial Announces Dividend

The firm 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. The ex-dividend date was Thursday, December 26th. This represents a $1.80 annualized dividend and a yield of 8.52%.

About ArrowMark Financial

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.