PNC Financial Services Group Inc. Trims Position in ArrowMark Financial Corp. (NASDAQ:BANX)

PNC Financial Services Group Inc. lessened its stake in ArrowMark Financial Corp. (NASDAQ:BANX) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the investment management company’s stock after selling 40,000 shares during the period. PNC Financial Services Group Inc. owned 0.37% of ArrowMark Financial worth $472,000 as of its most recent SEC filing.

Separately, Raymond James Financial Services Advisors Inc. increased its position in ArrowMark Financial by 8.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 222,034 shares of the investment management company’s stock valued at $4,032,000 after purchasing an additional 16,408 shares during the period. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Price Performance

NASDAQ BANX opened at $18.45 on Friday. The company’s 50-day simple moving average is $18.38 and its two-hundred day simple moving average is $18.43. ArrowMark Financial Corp. has a one year low of $16.07 and a one year high of $19.50.

ArrowMark Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 24th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.76%. The ex-dividend date is Monday, June 24th.

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.