Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Decreases By 40.0%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 5,100 shares, a drop of 40.0% from the September 30th total of 8,500 shares. Based on an average daily trading volume, of 21,200 shares, the short-interest ratio is presently 0.2 days.

ArrowMark Financial Stock Performance

Shares of NASDAQ:BANX traded down $0.03 during mid-day trading on Friday, reaching $20.20. 11,472 shares of the company were exchanged, compared to its average volume of 18,194. ArrowMark Financial has a 1 year low of $16.28 and a 1 year high of $21.67. The firm’s 50-day simple moving average is $20.42 and its 200 day simple moving average is $19.28.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.80 annualized dividend and a yield of 8.91%.

Institutional Investors Weigh In On ArrowMark Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisors LLC raised its holdings in 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 worth $631,000 after purchasing an additional 1,000 shares in the last quarter. Falcon Wealth Planning purchased a new position in ArrowMark Financial in the second quarter valued at about $264,000. Pathway Financial Advisers LLC lifted its position in shares of ArrowMark Financial by 1,969.1% in the 3rd 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 last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in ArrowMark Financial during the 1st quarter valued at approximately $340,000. 24.93% of the stock is currently 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.