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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 484,454 shares, an increase of 98.9% from the January 15th total of 243,520 shares. Based on an average trading volume of 69,945 shares, the days-to-cover ratio is presently 6.9 days. Approximately 6.8% of the company’s stock are short sold. Approximately 6.8% of the company’s stock are short sold. Based on an average trading volume of 69,945 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors have recently added to or reduced their stakes in BANX. Everstar Asset Management LLC lifted its stake in shares of ArrowMark Financial by 68.7% during the 2nd quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company’s stock valued at $846,000 after buying an additional 16,457 shares in the last quarter. Raymond James Financial Inc. increased its stake in ArrowMark Financial by 0.8% in the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock worth $3,925,000 after acquiring an additional 1,414 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of ArrowMark Financial by 26.5% in the second 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. Marshall Wace LLP bought a new position in shares of ArrowMark Financial in the 2nd quarter worth $386,000. Finally, Private Advisor Group LLC bought a new position in ArrowMark Financial in the third quarter valued at $205,000. 24.93% of the stock is owned by hedge funds and other institutional investors.

ArrowMark Financial Trading Up 0.3%

NASDAQ:BANX opened at $20.04 on Friday. The firm has a 50-day moving average price of $21.56 and a two-hundred day moving average price of $21.39. ArrowMark Financial has a 52 week low of $17.99 and a 52 week high of $23.67.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 3rd will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a c) annualized dividend and a yield of 9.0%.

About ArrowMark Financial

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.