ArrowMark Financial (NASDAQ:BANX) Shares Cross Above 50 Day Moving Average – What’s Next?

ArrowMark Financial Corp. (NASDAQ:BANX)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $19.66 and traded as high as $20.08. ArrowMark Financial shares last traded at $20.07, with a volume of 29,399 shares changing hands.

ArrowMark Financial Stock Down 0.3%

The company’s 50 day moving average price is $19.67 and its 200-day moving average price is $20.06.

ArrowMark Financial Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date was Tuesday, June 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BANX. Noble Wealth Management PBC lifted its position in shares of ArrowMark Financial by 0.8% during the 2nd quarter. Noble Wealth Management PBC now owns 107,197 shares of the investment management company’s stock valued at $2,096,000 after acquiring an additional 884 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of ArrowMark Financial by 11.4% during the first quarter. Private Advisor Group LLC now owns 12,268 shares of the investment management company’s stock valued at $234,000 after purchasing an additional 1,257 shares during the last quarter. Everstar Asset Management LLC increased its stake in ArrowMark Financial by 2.5% in the 1st quarter. Everstar Asset Management LLC now owns 47,345 shares of the investment management company’s stock worth $902,000 after purchasing an additional 1,153 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in ArrowMark Financial by 488.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock valued at $17,632,000 after buying an additional 670,749 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of ArrowMark Financial by 36.9% in the fourth quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock worth $1,022,000 after buying an additional 12,608 shares during the period. Institutional investors own 24.93% of the company’s stock.

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.