Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Expands By 29.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,700 shares, an increase of 29.5% from the March 31st total of 4,400 shares. Based on an average trading volume of 14,900 shares, the short-interest ratio is presently 0.4 days.

ArrowMark Financial Stock Down 0.4 %

ArrowMark Financial stock opened at $18.35 on Tuesday. The stock has a 50 day moving average of $18.63 and a two-hundred day moving average of $18.07. ArrowMark Financial has a twelve month low of $13.80 and a twelve month high of $19.50.

ArrowMark Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 20th. This is an increase from ArrowMark Financial’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 9.81%.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of BANX. Cambridge Investment Research Advisors Inc. lifted its stake in shares of ArrowMark Financial by 13.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,930 shares of the investment management company’s stock worth $366,000 after acquiring an additional 2,472 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in ArrowMark Financial by 16.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 205,626 shares of the investment management company’s stock worth $3,596,000 after purchasing an additional 29,184 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in ArrowMark Financial by 26.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 68,070 shares of the investment management company’s stock valued at $1,191,000 after purchasing an additional 14,128 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in ArrowMark Financial by 4.0% in the 4th quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock valued at $586,000 after purchasing an additional 1,250 shares in the last quarter. 24.93% of the stock is currently owned by hedge funds and other 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.