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

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 14,500 shares, a growth of 76.8% from the October 31st total of 8,200 shares. Based on an average trading volume of 23,500 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisors LLC increased its position 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 purchasing an additional 1,000 shares during the last quarter. Falcon Wealth Planning increased its position 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 valued at $339,000 after purchasing an additional 2,054 shares during the last quarter. Oppenheimer & Co. Inc. increased its position 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 during the last quarter. Catalina Capital Group LLC purchased a new stake in shares of ArrowMark Financial during the 3rd quarter valued at about $213,000. Finally, Pathway Financial Advisers LLC increased its position in shares of ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after purchasing an additional 14,768 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Price Performance

BANX traded up $0.02 during midday trading on Friday, hitting $20.70. 3,911 shares of the company traded hands, compared to its average volume of 18,887. The company’s 50-day moving average is $20.57 and its 200 day moving average is $19.67. ArrowMark Financial has a 52 week low of $16.96 and a 52 week 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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.70%. The ex-dividend date was Thursday, September 26th.

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.