ArrowMark Financial (NASDAQ:BANX) Share Price Passes Above 50 Day Moving Average of $16.65

ArrowMark Financial Corp. (NASDAQ:BANX) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $16.65 and traded as high as $17.48. ArrowMark Financial shares last traded at $17.39, with a volume of 39,736 shares.

ArrowMark Financial Stock Performance

The firm has a market capitalization of $123.59 million, a price-to-earnings ratio of 32.81 and a beta of 0.53. The business has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $17.00.

Institutional Trading of ArrowMark Financial

A number of hedge funds and other institutional investors have recently modified their holdings of BANX. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ArrowMark Financial during the 1st quarter worth about $322,000. UBS Group AG acquired a new stake in shares of ArrowMark Financial during the 2nd quarter worth about $36,000. Millennium Management LLC acquired a new stake in shares of ArrowMark Financial during the 2nd quarter worth about $275,000. Raymond James Financial Services Advisors Inc. increased its position in shares of ArrowMark Financial by 11.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 160,037 shares of the investment management company’s stock worth $2,727,000 after purchasing an additional 16,720 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its position in shares of ArrowMark Financial by 4.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 248,583 shares of the investment management company’s stock worth $4,235,000 after purchasing an additional 9,860 shares during the last quarter. 26.44% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Company Profile

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.