ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Above Fifty Day Moving Average of $18.35

ArrowMark Financial Corp. (NASDAQ:BANXGet Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $18.35 and traded as high as $18.51. ArrowMark Financial shares last traded at $18.40, with a volume of 12,583 shares.

ArrowMark Financial Stock Performance

The firm has a 50-day moving average of $18.35 and a two-hundred day moving average of $18.32.

Hedge Funds Weigh In On ArrowMark Financial

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in 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 valued at $4,353,000 after acquiring an additional 7,110 shares in the last quarter. Capital Investment Advisors LLC raised its holdings in ArrowMark Financial by 4.0% in the 4th quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock valued at $586,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in ArrowMark Financial in the 1st quarter valued at approximately $340,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

About ArrowMark Financial

(Get 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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