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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 16,600 shares, an increase of 14.5% from the November 15th total of 14,500 shares. Based on an average daily trading volume, of 23,500 shares, the days-to-cover ratio is currently 0.7 days.

ArrowMark Financial Stock Performance

Shares of ArrowMark Financial stock traded up $0.01 during trading hours on Monday, reaching $20.77. The company’s stock had a trading volume of 12,100 shares, compared to its average volume of 18,720. ArrowMark Financial has a one year low of $17.58 and a one year high of $21.67. The firm has a 50 day moving average price of $20.59 and a 200-day moving average price of $19.87.

ArrowMark Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, December 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.67%. The ex-dividend date of this dividend is Thursday, December 26th.

Hedge Funds Weigh In On ArrowMark Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Catalina Capital Group LLC acquired a new stake in ArrowMark Financial in the third quarter valued at approximately $213,000. Pathway Financial Advisers LLC lifted 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 worth $321,000 after buying an additional 14,768 shares during the period. Falcon Wealth Planning lifted its stake in shares of ArrowMark Financial by 14.4% during the third quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after buying an additional 2,054 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of ArrowMark Financial by 15.0% during the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock worth $461,000 after buying an additional 2,900 shares during the period. Finally, Capital Investment Advisors LLC lifted its stake in shares of ArrowMark Financial by 4.4% during the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock worth $740,000 after buying an additional 1,496 shares during the period. 24.93% of the stock is currently owned by institutional investors.

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.