Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Increases By 29.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,700 shares, a growth of 29.5% from the March 31st total of 4,400 shares. Based on an average daily volume of 14,900 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of ArrowMark Financial by 3.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 229,144 shares of the investment management company’s stock worth $4,353,000 after buying an additional 7,110 shares during the last quarter. Capital Investment Advisors LLC increased its stake in ArrowMark Financial by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after acquiring an additional 1,250 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in ArrowMark Financial by 26.2% during the third quarter. Punch & Associates Investment Management Inc. now owns 68,070 shares of the investment management company’s stock worth $1,191,000 after acquiring an additional 14,128 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in ArrowMark Financial by 13.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,930 shares of the investment management company’s stock valued at $366,000 after purchasing an additional 2,472 shares during the period. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Trading Up 0.4 %

NASDAQ:BANX opened at $18.42 on Friday. The business’s 50-day moving average is $18.63 and its 200 day moving average is $18.06. ArrowMark Financial has a 12 month low of $13.80 and a 12 month high of $19.50.

ArrowMark Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 9.77%. This is a boost from ArrowMark Financial’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, March 20th.

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.