ArrowMark Financial (NASDAQ:BANX) Shares Cross Above 200-Day Moving Average – Should You Sell?

ArrowMark Financial Corp. (NASDAQ:BANX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.81 and traded as high as $20.58. ArrowMark Financial shares last traded at $20.52, with a volume of 17,944 shares traded.

ArrowMark Financial Price Performance

The firm’s fifty day moving average price is $19.83 and its 200 day moving average price is $19.81.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 8.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BANX. Trust Co. of Vermont purchased a new stake in ArrowMark Financial during the second quarter valued at approximately $34,000. Private Advisor Group LLC bought a new stake in ArrowMark Financial during the 3rd quarter valued at $205,000. Marshall Wace LLP bought a new position in ArrowMark Financial during the 2nd quarter worth about $386,000. Osaic Holdings Inc. increased its holdings in ArrowMark Financial by 26.5% during the second quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock valued at $476,000 after buying an additional 4,762 shares during the period. Finally, Everstar Asset Management LLC raised its position in shares of 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 acquiring an additional 1,153 shares in the last quarter. 24.93% of the stock is currently owned by 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.