Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Expands By 62.6%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 31,700 shares, an increase of 62.6% from the January 31st total of 19,500 shares. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is presently 1.8 days.

Insider Transactions at ArrowMark Financial

In other news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction 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 transaction, the director now owns 6,225 shares of the company’s stock, valued at approximately $132,468. This represents a 28.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BANX. Round Rock Advisors LLC acquired a new stake in ArrowMark Financial in the 4th quarter valued at approximately $896,000. Trust Co. of Vermont acquired a new position in shares of ArrowMark Financial during the fourth quarter valued at $58,000. Noble Wealth Management PBC bought a new stake in shares of ArrowMark Financial during the fourth quarter valued at about $348,000. Falcon Wealth Planning raised its stake in shares of ArrowMark Financial by 15.3% during the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Catalina Capital Group LLC acquired a new stake in ArrowMark Financial in the third quarter worth about $213,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Up 0.5 %

NASDAQ:BANX opened at $21.30 on Friday. The company has a 50-day moving average of $21.06 and a 200 day moving average of $20.70. ArrowMark Financial 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 Friday, January 3rd. Shareholders of record on Thursday, December 26th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.80 annualized dividend and a dividend yield of 8.45%.

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.