Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Expands By 60.8%

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,200 shares, an increase of 60.8% from the October 15th total of 5,100 shares. Based on an average daily volume of 24,000 shares, the short-interest ratio is presently 0.3 days.

ArrowMark Financial Stock Down 1.4 %

NASDAQ:BANX traded down $0.28 during mid-day trading on Thursday, hitting $20.30. 21,563 shares of the company's stock were exchanged, compared to its average volume of 19,025. ArrowMark Financial has a fifty-two week low of $16.67 and a fifty-two week high of $21.67. The company has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $19.49.

ArrowMark Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.87%.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds have recently made changes to their positions in BANX. Oppenheimer & Co. Inc. boosted its stake in shares of ArrowMark Financial by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company's stock valued at $461,000 after purchasing an additional 2,900 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial in the third quarter worth about $213,000. Falcon Wealth Planning increased its stake in shares of ArrowMark Financial by 14.4% in the third quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company's stock worth $339,000 after purchasing an additional 2,054 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of ArrowMark Financial by 1,969.1% in the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company's stock valued at $321,000 after purchasing an additional 14,768 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in ArrowMark Financial by 4.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company's stock worth $740,000 after buying an additional 1,496 shares during the period. 24.93% of the stock is currently owned by institutional investors.

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.