ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Decline in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 22,200 shares, a drop of 35.1% from the August 15th total of 34,200 shares. Based on an average trading volume of 17,800 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the company’s stock are short sold. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 17,800 shares, the days-to-cover ratio is presently 1.2 days.

ArrowMark Financial Trading Up 2.5%

Shares of NASDAQ:BANX opened at $21.93 on Tuesday. The company’s fifty day moving average price is $20.80 and its 200 day moving average price is $20.52. ArrowMark Financial has a 12 month low of $17.99 and a 12 month high of $21.93.

ArrowMark Financial Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 3rd.

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its position in ArrowMark Financial by 3.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company’s stock worth $523,000 after purchasing an additional 899 shares during the last quarter. Osaic Holdings Inc. grew its position in ArrowMark Financial by 26.5% during the 2nd quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock worth $476,000 after purchasing an additional 4,762 shares during the last quarter. Catalina Capital Group LLC grew its position in ArrowMark Financial by 51.9% during the 2nd quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company’s stock worth $328,000 after purchasing an additional 5,354 shares during the last quarter. Millennium Management LLC purchased a new position in ArrowMark Financial during the 4th quarter worth $220,000. Finally, Principal Street Partners LLC purchased a new position in ArrowMark Financial during the 4th quarter worth $261,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.