ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Growth in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 20,451 shares, a growth of 99.4% from the March 15th total of 10,256 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 36,007 shares, the short-interest ratio is presently 0.6 days.

ArrowMark Financial Trading Down 0.5%

Shares of BANX opened at $19.38 on Tuesday. ArrowMark Financial has a one year low of $18.45 and a one year high of $23.67. The company has a 50-day moving average of $19.56 and a two-hundred day moving average of $20.91.

ArrowMark Financial Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date was Monday, March 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of ArrowMark Financial in the 2nd quarter valued at about $386,000. Osaic Holdings Inc. boosted its holdings in shares of ArrowMark Financial by 26.5% during 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 period. Accurate Wealth Management LLC acquired a new stake in shares of ArrowMark Financial during the third quarter worth approximately $311,000. Belpointe Asset Management LLC acquired a new stake in shares of ArrowMark Financial during the third quarter worth approximately $204,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of ArrowMark Financial by 39.3% during the third 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. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.