ArrowMark Financial (NASDAQ:BANX) Stock Passes Below 200-Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

ArrowMark Financial Price Performance

The firm has a 50 day moving average price of $21.09 and a two-hundred day moving average price of $20.83.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend is Thursday, March 20th.

Insider Buying and Selling at ArrowMark Financial

In other news, Director John Scott Emrich sold 2,500 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $21.28, for a total transaction 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 legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors have recently bought and sold shares of the stock. Everstar Asset Management LLC boosted its stake in shares of ArrowMark Financial by 6.0% in the 4th quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock worth $487,000 after buying an additional 1,321 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in ArrowMark Financial by 7.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company’s stock worth $502,000 after purchasing an additional 1,655 shares during the last quarter. Falcon Wealth Planning boosted its position in ArrowMark Financial by 15.3% in the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock worth $396,000 after purchasing an additional 2,500 shares during the last quarter. Trust Co. of Vermont bought a new position in ArrowMark Financial in the 4th quarter valued at $58,000. Finally, Stifel Financial Corp increased its position in shares of ArrowMark Financial by 4.2% during the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock valued at $3,519,000 after purchasing an additional 6,683 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.

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.