ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Decline in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX - Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,100 shares, a decline of 40.0% from the September 30th total of 8,500 shares. Based on an average daily trading volume, of 21,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of ArrowMark Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BANX. Falcon Wealth Planning purchased a new stake in ArrowMark Financial during the 2nd quarter worth approximately $264,000. Pathway Financial Advisers LLC lifted its stake in shares of ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company's stock worth $321,000 after buying an additional 14,768 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of ArrowMark Financial during the first quarter valued at $340,000. Finally, Capital Investment Advisors LLC increased its position in shares of ArrowMark Financial by 3.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company's stock valued at $631,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 24.93% of the company's stock.

ArrowMark Financial Trading Down 0.1 %

Shares of NASDAQ BANX traded down $0.03 during trading hours on Friday, hitting $20.20. 11,472 shares of the stock were exchanged, compared to its average volume of 18,194. ArrowMark Financial has a 12 month low of $16.28 and a 12 month high of $21.67. The firm has a fifty day moving average price of $20.42 and a 200-day moving average price of $19.28.

ArrowMark Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date was Thursday, September 26th.

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.