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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant increase in short interest during the month of 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 days-to-cover ratio is presently 0.3 days.

ArrowMark Financial Stock Up 0.7 %

Shares of BANX traded up $0.15 during trading hours on Friday, reaching $20.40. 19,494 shares of the company traded hands, compared to its average volume of 19,052. ArrowMark Financial has a fifty-two week low of $16.90 and a fifty-two week high of $21.67. The stock has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $19.50.

ArrowMark Financial Dividend Announcement

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

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC purchased a new stake in ArrowMark Financial in the third quarter valued at approximately $213,000. Falcon Wealth Planning purchased a new stake in ArrowMark Financial during the second quarter worth approximately $264,000. Pathway Financial Advisers LLC raised its stake 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 valued at $321,000 after acquiring an additional 14,768 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of ArrowMark Financial during the first quarter worth about $340,000. Finally, Capital Investment Advisors LLC raised its holdings in shares of ArrowMark Financial by 3.0% during the 2nd 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 period. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.