ArrowMark Financial (NASDAQ:BANX) Share Price Passes Below 200-Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.49 and traded as low as $19.74. ArrowMark Financial shares last traded at $19.85, with a volume of 72,783 shares.

ArrowMark Financial Stock Down 0.2%

The business has a 50 day simple moving average of $19.50 and a two-hundred day simple moving average of $20.49.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be issued a $0.15 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Friday, May 22nd.

Hedge Funds Weigh In On ArrowMark Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its holdings in ArrowMark Financial by 488.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock valued at $17,632,000 after acquiring an additional 670,749 shares during the period. Raymond James Financial Inc. boosted its holdings in ArrowMark Financial by 0.8% during the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock valued at $3,925,000 after acquiring an additional 1,414 shares during the period. Stifel Financial Corp boosted its holdings in ArrowMark Financial by 1.5% during the 4th quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock valued at $3,400,000 after acquiring an additional 2,281 shares during the period. Noble Wealth Management PBC boosted its holdings in ArrowMark Financial by 3.9% during the 4th quarter. Noble Wealth Management PBC now owns 80,711 shares of the investment management company’s stock valued at $1,761,000 after acquiring an additional 3,032 shares during the period. Finally, Closed End Fund Advisors Inc. purchased a new stake in ArrowMark Financial during the 4th quarter valued at about $1,513,000. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

ArrowMark Financial Company Profile

ArrowMark Financial Corporation (NASDAQ: BANX) is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.