ArrowMark Financial (NASDAQ:BANX) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) shares 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 changing hands.

ArrowMark Financial Price Performance

The stock’s 50-day simple moving average is $21.08 and its 200 day simple moving average is $20.82.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.80 annualized dividend and a dividend yield of 8.71%.

Insider Buying and Selling

In related news, Director John Scott Emrich sold 2,500 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $21.28, for a total value of $53,200.00. Following the sale, the director now owns 6,225 shares in the company, valued at approximately $132,468. The trade was 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 hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of ArrowMark Financial in the fourth quarter valued at approximately $3,957,000. Stifel Financial Corp boosted its position in ArrowMark Financial by 4.2% in the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock valued at $3,519,000 after buying an additional 6,683 shares during the period. Round Rock Advisors LLC acquired a new position in shares of ArrowMark Financial in the fourth quarter worth $896,000. Oppenheimer & Co. Inc. increased its position in shares of ArrowMark Financial by 7.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company’s stock worth $502,000 after acquiring an additional 1,655 shares during the period. Finally, Everstar Asset Management LLC raised its stake in shares of ArrowMark Financial by 6.0% in the fourth quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 1,321 shares in the last quarter. 24.93% of the stock is owned by institutional investors and hedge funds.

About ArrowMark Financial

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.