ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.82 and traded as low as $20.66. ArrowMark Financial shares last traded at $20.66, with a volume of 6,974 shares trading hands.

ArrowMark Financial Stock Performance

The company has a 50 day simple moving average of $21.09 and a 200-day simple moving average of $20.83.

ArrowMark Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 20th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 8.55%.

Insiders Place Their Bets

In other ArrowMark Financial news, Director John Scott Emrich sold 2,500 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $21.28, for a total value of $53,200.00. Following the completion of the sale, the director now directly owns 6,225 shares of the company’s stock, valued at $132,468. The trade was a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in ArrowMark Financial during the 4th quarter valued at about $3,957,000. Round Rock Advisors LLC bought a new stake in ArrowMark Financial in the fourth quarter valued at approximately $896,000. Noble Wealth Management PBC purchased a new stake in shares of ArrowMark Financial during the fourth quarter valued at approximately $348,000. Principal Street Partners LLC bought a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $261,000. Finally, Millennium Management LLC purchased a new position in shares of ArrowMark Financial in the fourth quarter worth $220,000. 24.93% of the stock is owned by institutional investors.

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.