ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 18,400 shares, a growth of 10.8% from the November 30th total of 16,600 shares. Based on an average trading volume of 23,700 shares, the short-interest ratio is currently 0.8 days.

ArrowMark Financial Stock Performance

NASDAQ BANX traded up $0.04 during trading hours on Tuesday, reaching $20.88. The company’s stock had a trading volume of 10,899 shares, compared to its average volume of 19,115. The company’s 50-day moving average is $20.74 and its two-hundred day moving average is $20.08. ArrowMark Financial has a 1-year low of $17.81 and a 1-year high of $21.67.

ArrowMark Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, December 26th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date of this dividend is Thursday, December 26th.

Hedge Funds Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANX. Capital Investment Advisors LLC increased its stake in shares of ArrowMark Financial by 4.4% during the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock worth $740,000 after purchasing an additional 1,496 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in ArrowMark Financial by 1,969.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after buying an additional 14,768 shares during the last quarter. Falcon Wealth Planning increased its stake in ArrowMark Financial by 14.4% during the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after buying an additional 2,054 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of ArrowMark Financial during the third quarter valued at approximately $213,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of ArrowMark Financial by 15.0% in the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after acquiring an additional 2,900 shares in the last quarter. 24.93% of the stock is owned by hedge funds and other institutional investors.

About ArrowMark Financial

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.