Raymond James Financial Inc. Purchases New Position in ArrowMark Financial Corp. (NASDAQ:BANX)

Raymond James Financial Inc. bought a new stake in ArrowMark Financial Corp. (NASDAQ:BANX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 188,570 shares of the investment management company's stock, valued at approximately $3,957,000. Raymond James Financial Inc. owned about 2.63% of ArrowMark Financial as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Noble Wealth Management PBC bought a new position in shares of ArrowMark Financial during the 4th quarter valued at $348,000. Oppenheimer & Co. Inc. boosted its position in ArrowMark Financial by 7.4% during the fourth 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 during the period. Round Rock Advisors LLC bought a new position in shares of ArrowMark Financial during the fourth quarter valued at about $896,000. Falcon Wealth Planning increased its holdings in shares of ArrowMark Financial by 15.3% in 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 during the period. Finally, Trust Co. of Vermont bought a new stake in shares of ArrowMark Financial in the 4th quarter valued at about $58,000. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Trading Up 0.4 %

BANX stock traded up $0.09 during trading on Friday, hitting $21.15. 15,964 shares of the company traded hands, compared to its average volume of 20,241. The company has a 50-day moving average of $21.09 and a 200-day moving average of $20.84. ArrowMark Financial Corp. has a 1 year low of $17.91 and a 1 year high of $21.67.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 20th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 8.51%.

Insider Buying and Selling at ArrowMark Financial

In other ArrowMark Financial news, Director John Scott Emrich sold 2,500 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the completion of the transaction, the director now owns 6,225 shares of the company's stock, valued at $132,468. This represents a 28.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.