ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.82 and traded as low as $20.66. ArrowMark Financial shares last traded at $20.66, with a volume of 6,974 shares.
ArrowMark Financial Price Performance
The business's 50-day moving average price is $21.09 and its two-hundred day moving average price is $20.83.
ArrowMark Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date was Thursday, March 20th.
Insider Activity at ArrowMark Financial
In related news, Director John Scott Emrich sold 2,500 shares of the firm's 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 directly owns 6,225 shares of the company's stock, valued at approximately $132,468. This trade represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company's stock.
Hedge Funds Weigh In On ArrowMark Financial
A number of large investors have recently bought and sold shares of BANX. Trust Co. of Vermont acquired a new stake in shares of ArrowMark Financial during the 4th quarter worth $58,000. Millennium Management LLC acquired a new position in ArrowMark Financial in the fourth quarter valued at $220,000. Principal Street Partners LLC purchased a new stake in ArrowMark Financial during the fourth quarter valued at about $261,000. Noble Wealth Management PBC acquired a new stake in ArrowMark Financial during the fourth quarter worth about $348,000. Finally, Falcon Wealth Planning raised its holdings in shares of ArrowMark Financial by 15.3% in the 4th quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company's stock worth $396,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 24.93% of the company's stock.
About ArrowMark Financial
(
Get Free Report)
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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