Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Increases By 29.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,700 shares, an increase of 29.5% from the March 31st total of 4,400 shares. Based on an average daily trading volume, of 14,900 shares, the days-to-cover ratio is currently 0.4 days.

ArrowMark Financial Stock Up 0.4 %

Shares of NASDAQ BANX opened at $18.42 on Friday. ArrowMark Financial has a one year low of $13.80 and a one year high of $19.50. The business’s fifty day moving average price is $18.63 and its 200-day moving average price is $18.06.

ArrowMark Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from ArrowMark Financial’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 9.77%.

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ArrowMark Financial by 3.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 229,144 shares of the investment management company’s stock valued at $4,353,000 after buying an additional 7,110 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in ArrowMark Financial by 26.2% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 68,070 shares of the investment management company’s stock valued at $1,191,000 after acquiring an additional 14,128 shares during the period. Capital Investment Advisors LLC lifted its position in shares of ArrowMark Financial by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of ArrowMark Financial by 13.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,930 shares of the investment management company’s stock worth $366,000 after acquiring an additional 2,472 shares during the period. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Company Profile

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.