PNC Financial Services Group Inc. Sells 40,000 Shares of ArrowMark Financial Corp. (NASDAQ:BANX)

PNC Financial Services Group Inc. cut its stake in ArrowMark Financial Corp. (NASDAQ:BANXFree Report) by 60.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,000 shares of the investment management company’s stock after selling 40,000 shares during the quarter. PNC Financial Services Group Inc. owned about 0.37% of ArrowMark Financial worth $472,000 at the end of the most recent quarter.

Separately, Capital Investment Advisors LLC raised its stake in ArrowMark Financial by 4.0% in the fourth quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after buying an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Stock Up 0.3 %

ArrowMark Financial stock opened at $18.05 on Monday. ArrowMark Financial Corp. has a fifty-two week low of $15.60 and a fifty-two week high of $19.50. The stock’s 50 day simple moving average is $18.41 and its two-hundred day simple moving average is $18.28.

ArrowMark Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from ArrowMark Financial’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 9.97%.

ArrowMark Financial Company Profile

(Free Report)

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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Institutional Ownership by Quarter for ArrowMark Financial (NASDAQ:BANX)

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