ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 18,400 shares, an increase of 10.8% from the November 30th total of 16,600 shares. Based on an average trading volume of 23,700 shares, the short-interest ratio is currently 0.8 days.

ArrowMark Financial Stock Up 0.2 %

ArrowMark Financial stock traded up $0.04 during trading hours on Tuesday, hitting $20.88. 10,899 shares of the stock traded hands, compared to its average volume of 19,115. The firm’s 50 day moving average price is $20.74 and its 200-day moving average price is $20.08. ArrowMark Financial has a 1 year low of $17.81 and a 1 year high of $21.67.

ArrowMark Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Thursday, December 26th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a yield of 8.62%.

Institutional Investors Weigh In On ArrowMark Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC lifted its holdings in shares of ArrowMark Financial by 4.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after buying an additional 1,496 shares during the period. Pathway Financial Advisers LLC lifted its holdings in ArrowMark Financial by 1,969.1% in the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after acquiring an additional 14,768 shares during the period. Catalina Capital Group LLC purchased a new stake in ArrowMark Financial in the 3rd quarter worth approximately $213,000. Falcon Wealth Planning grew its stake in shares of ArrowMark Financial by 14.4% during the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after purchasing an additional 2,054 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of ArrowMark Financial by 15.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after purchasing an additional 2,900 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.