Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Rises By 60.8%

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 8,200 shares, an increase of 60.8% from the October 15th total of 5,100 shares. Based on an average trading volume of 24,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors have recently made changes to their positions in BANX. Catalina Capital Group LLC bought a new position in ArrowMark Financial in the third quarter valued at $213,000. Falcon Wealth Planning bought a new position in shares of ArrowMark Financial during the second quarter valued at about $264,000. Pathway Financial Advisers LLC grew 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 valued at $321,000 after buying an additional 14,768 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of ArrowMark Financial during the first quarter valued at about $340,000. Finally, Capital Investment Advisors LLC grew its stake in shares of ArrowMark Financial by 3.0% during the second quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock valued at $631,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Stock Performance

NASDAQ:BANX opened at $20.40 on Friday. The stock’s fifty day moving average price is $20.54 and its two-hundred day moving average price is $19.50. ArrowMark Financial has a 1 year low of $16.90 and a 1 year high of $21.67.

ArrowMark Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.80 annualized dividend and a dividend yield of 8.82%.

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.