ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) saw a large decrease in short interest during the month of December. As of December 30th, there was short interest totalling 6,000 shares, a decrease of 14.3% from the December 15th total of 7,000 shares. Based on an average daily trading volume, of 19,100 shares, the short-interest ratio is presently 0.3 days.
Hedge Funds Weigh In On ArrowMark Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisors LLC lifted its position in ArrowMark Financial by 15.1% in the 4th quarter. Capital Investment Advisors LLC now owns 16,750 shares of the investment management company’s stock valued at $285,000 after acquiring an additional 2,200 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of ArrowMark Financial during the 3rd quarter valued at $175,000. Oxbow Advisors LLC lifted its holdings in shares of ArrowMark Financial by 13.9% during the 3rd quarter. Oxbow Advisors LLC now owns 38,177 shares of the investment management company’s stock valued at $659,000 after buying an additional 4,650 shares during the period. Raymond James & Associates lifted its holdings in shares of ArrowMark Financial by 23.0% during the 3rd quarter. Raymond James & Associates now owns 34,403 shares of the investment management company’s stock valued at $594,000 after buying an additional 6,437 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of ArrowMark Financial by 10.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 143,317 shares of the investment management company’s stock valued at $2,474,000 after buying an additional 13,452 shares during the period. 24.77% of the stock is owned by institutional investors.
ArrowMark Financial Stock Up 1.3 %
ArrowMark Financial stock opened at $18.37 on Friday. The company has a market capitalization of $130.40 million, a P/E ratio of 34.66 and a beta of 0.53. ArrowMark Financial has a twelve month low of $16.32 and a twelve month high of $23.36. The stock’s 50 day moving average is $17.67 and its 200 day moving average is $17.92.
ArrowMark Financial Dividend Announcement
The firm also recently disclosed a None dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 29th were given a $0.49 dividend. The ex-dividend date was Wednesday, December 28th. This represents a yield of 11.34%. ArrowMark Financial’s dividend payout ratio (DPR) is presently 294.35%.
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.
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