ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Down 43.7% in September

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 8,500 shares, a decline of 43.7% from the September 15th total of 15,100 shares. Based on an average daily trading volume, of 19,700 shares, the days-to-cover ratio is presently 0.4 days.

ArrowMark Financial Stock Performance

Shares of BANX stock traded down $0.25 during trading hours on Friday, reaching $19.89. The company had a trading volume of 20,147 shares, compared to its average volume of 17,508. ArrowMark Financial has a 1-year low of $16.28 and a 1-year high of $21.67. The company has a 50 day moving average of $20.22 and a 200 day moving average of $19.17.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.45 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.05%.

Hedge Funds Weigh In On ArrowMark Financial

Several institutional investors and hedge funds have recently made changes to their positions in BANX. Oppenheimer & Co. Inc. acquired a new position in shares of ArrowMark Financial during the first quarter worth about $340,000. Capital Investment Advisors LLC boosted its holdings in ArrowMark Financial by 3.0% during the second quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock worth $631,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Falcon Wealth Planning bought a new position in ArrowMark Financial in the second quarter valued at $264,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

About ArrowMark Financial

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.