ArrowMark Financial (NASDAQ:BANX) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $21.59 and traded as high as $22.50. ArrowMark Financial shares last traded at $22.32, with a volume of 60,756 shares.

ArrowMark Financial Stock Performance

The stock’s 50-day moving average price is $21.59 and its 200-day moving average price is $21.22. The company has a market capitalization of $159.14 million, a price-to-earnings ratio of 48.52 and a beta of 0.19.

ArrowMark Financial Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 22nd. ArrowMark Financial’s payout ratio is presently 391.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. grew its stake in ArrowMark Financial by 0.8% in the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock valued at $3,925,000 after acquiring an additional 1,414 shares during the last quarter. Private Advisor Group LLC acquired a new position in ArrowMark Financial during the third quarter worth about $205,000. Oppenheimer & Co. Inc. lifted 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 purchasing an additional 6,284 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of ArrowMark Financial in the third quarter valued at approximately $204,000. Finally, Accurate Wealth Management LLC purchased a new position in shares of ArrowMark Financial during the 3rd quarter worth approximately $311,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

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.