Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Increases By 650.0%

ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 6,000 shares, an increase of 650.0% from the March 31st total of 800 shares. Based on an average daily volume of 10,400 shares, the days-to-cover ratio is presently 0.6 days.

Shares of BANX stock traded down $0.20 during trading hours on Wednesday, reaching $20.50. The company had a trading volume of 35,150 shares, compared to its average volume of 11,085. The business has a fifty day moving average price of $21.43 and a 200-day moving average price of $21.79. ArrowMark Financial has a one year low of $19.81 and a one year high of $24.19. The firm has a market cap of $134.73 million, a PE ratio of 10.90 and a beta of 0.67.

ArrowMark Financial (NASDAQ:BANX – Get Rating) last announced its quarterly earnings results on Monday, February 28th. The investment management company reported $0.41 EPS for the quarter. The company had revenue of $4.55 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Investors of record on Monday, March 21st were issued a $0.39 dividend. This is an increase from ArrowMark Financial’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, March 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.61%. ArrowMark Financial’s dividend payout ratio (DPR) is presently 82.98%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC boosted its holdings in shares of ArrowMark Financial by 4,407.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 503,402 shares of the investment management company’s stock worth $11,100,000 after buying an additional 492,234 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of ArrowMark Financial by 30.6% in the fourth quarter. Belpointe Asset Management LLC now owns 11,626 shares of the investment management company’s stock worth $255,000 after buying an additional 2,723 shares during the last quarter. Greenwich Investment Management Inc. purchased a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $6,110,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of ArrowMark Financial in the fourth quarter worth approximately $1,947,000. Finally, UMB Bank N A MO purchased a new position in ArrowMark Financial during the fourth quarter valued at approximately $59,000. 25.44% of the stock is currently owned by institutional investors.

About ArrowMark Financial (Get Rating)

StoneCastle Financial Corp. is a closed ended balanced mutual fund launched and managed by StoneCastle Asset Management LLC. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across the banking sector. It invests in dividend paying growth and value stocks of companies.

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