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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large decline in short interest in April. As of April 15th, there was short interest totaling 13,069 shares, a decline of 36.1% from the March 31st total of 20,451 shares. Based on an average daily volume of 40,328 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

ArrowMark Financial Stock Performance

Shares of NASDAQ:BANX opened at $19.49 on Tuesday. ArrowMark Financial has a 52 week low of $18.45 and a 52 week high of $23.67. The company’s fifty day moving average is $19.41 and its 200-day moving average is $20.75.

ArrowMark Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 23rd will be issued a $0.15 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Thursday, April 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Belpointe Asset Management LLC bought a new position in shares of ArrowMark Financial in the third quarter valued at about $204,000. Private Advisor Group LLC bought a new position in shares of ArrowMark Financial in the third quarter valued at about $205,000. Accurate Wealth Management LLC bought a new position in shares of ArrowMark Financial in the third quarter valued at about $311,000. Marshall Wace LLP bought a new position in shares of ArrowMark Financial in the second quarter valued at about $386,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of ArrowMark Financial by 39.3% in the third quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock valued at $489,000 after buying an additional 6,284 shares during the last quarter. 24.93% of the stock is owned by institutional investors.

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.