ArrowMark Financial (NASDAQ:BANX) Share Price Passes Above Fifty Day Moving Average – What’s Next?

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 $21.68 and traded as high as $22.10. ArrowMark Financial shares last traded at $21.99, with a volume of 12,771 shares traded.

ArrowMark Financial Stock Down 0.1%

The stock has a market capitalization of $156.79 million, a price-to-earnings ratio of 47.80 and a beta of 0.19. The stock has a 50 day moving average price of $21.68 and a 200 day moving average price of $21.34.

ArrowMark Financial Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be given a $0.10 dividend. The ex-dividend date is Thursday, January 22nd. ArrowMark Financial’s dividend payout ratio is 391.30%.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC acquired a new stake in ArrowMark Financial in the third quarter valued at $204,000. Private Advisor Group LLC bought a new stake in shares of ArrowMark Financial in the 3rd quarter valued at about $205,000. Accurate Wealth Management LLC acquired a new stake in shares of ArrowMark Financial in the third quarter valued at about $311,000. Catalina Capital Group LLC increased its stake in shares of ArrowMark Financial by 51.9% in the second quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company’s stock valued at $328,000 after buying an additional 5,354 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of ArrowMark Financial during the second quarter worth about $386,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

ArrowMark Financial Company Profile

ArrowMark Financial Corporation (NASDAQ: BANX) is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.