ArrowMark Financial (NASDAQ:BANX) Stock Crosses Below 200-Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.62 and traded as low as $20.25. ArrowMark Financial shares last traded at $20.44, with a volume of 7,638 shares traded.

ArrowMark Financial Trading Up 1.0%

The company has a fifty day moving average price of $19.92 and a 200 day moving average price of $20.62.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds and other institutional investors have recently modified their holdings of BANX. Oppenheimer & Co. Inc. boosted its position in ArrowMark Financial by 7.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company’s stock valued at $502,000 after buying an additional 1,655 shares during the period. Noble Wealth Management PBC purchased a new position in ArrowMark Financial during the fourth quarter valued at $348,000. Raymond James Financial Inc. purchased a new position in ArrowMark Financial during the 4th quarter valued at about $3,957,000. Everstar Asset Management LLC lifted its holdings in shares of ArrowMark Financial by 6.0% during the fourth quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock valued at $487,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of ArrowMark Financial by 4.2% in the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock worth $3,519,000 after purchasing an additional 6,683 shares during the last quarter. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

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.