ArrowMark Financial (NASDAQ:BANX) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of ArrowMark Financial Corp. (NASDAQ:BANX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.07 and traded as low as $19.09. ArrowMark Financial shares last traded at $19.22, with a volume of 64,837 shares trading hands.

ArrowMark Financial Stock Up 0.8%

The firm has a 50 day moving average price of $19.84 and a 200-day moving average price of $21.07.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BANX. Belpointe Asset Management LLC bought a new stake in shares of ArrowMark Financial in the 3rd quarter worth about $204,000. Private Advisor Group LLC bought a new position in ArrowMark Financial during the 3rd quarter valued at about $205,000. Accurate Wealth Management LLC bought a new position in ArrowMark Financial during the 3rd quarter valued at about $311,000. Marshall Wace LLP purchased a new stake in ArrowMark Financial in the 2nd quarter worth about $386,000. Finally, Oppenheimer & Co. Inc. raised its position in ArrowMark Financial by 39.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock worth $489,000 after purchasing an additional 6,284 shares during the period. Hedge funds and other institutional investors 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.