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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 19,500 shares, a decrease of 19.1% from the January 15th total of 24,100 shares. Based on an average daily volume of 19,500 shares, the short-interest ratio is presently 1.0 days.

Insider Transactions at ArrowMark Financial

In related news, Director John Scott Emrich sold 2,500 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the completion of the sale, the director now directly owns 6,225 shares in the company, valued at $132,468. This represents a 28.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On ArrowMark Financial

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of ArrowMark Financial in the 4th quarter worth $3,957,000. Round Rock Advisors LLC purchased a new stake in ArrowMark Financial in the fourth quarter valued at about $896,000. Noble Wealth Management PBC acquired a new stake in ArrowMark Financial in the fourth quarter worth about $348,000. Pathway Financial Advisers LLC grew its stake in shares of ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after acquiring an additional 14,768 shares during the last quarter. Finally, Catalina Capital Group LLC acquired a new position in shares of ArrowMark Financial during the third quarter valued at about $213,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

Shares of BANX stock remained flat at $21.00 during mid-day trading on Monday. 7,583 shares of the company’s stock traded hands, compared to its average volume of 13,828. ArrowMark Financial has a 1-year low of $17.91 and a 1-year high of $21.67. The stock’s 50-day moving average price is $21.01 and its two-hundred day moving average price is $20.59.

ArrowMark Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Thursday, December 26th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a yield of 8.57%.

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.