ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Update

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 484,454 shares, a growth of 98.9% from the January 15th total of 243,520 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average daily volume of 69,945 shares, the short-interest ratio is presently 6.9 days. Based on an average daily volume of 69,945 shares, the short-interest ratio is presently 6.9 days. Approximately 6.8% of the company’s shares are short sold.

ArrowMark Financial Stock Up 0.3%

Shares of BANX stock opened at $20.04 on Friday. ArrowMark Financial has a 52 week low of $17.99 and a 52 week high of $23.67. The stock has a fifty day moving average of $21.56 and a 200 day moving average of $21.39.

ArrowMark Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 3rd will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a c) annualized dividend and a dividend yield of 9.0%.

Institutional Trading of ArrowMark Financial

A number of hedge funds have recently made changes to their positions in BANX. Belpointe Asset Management LLC bought a new stake in ArrowMark Financial in the third quarter worth $204,000. Private Advisor Group LLC bought a new stake in shares of ArrowMark Financial in the third quarter worth approximately $205,000. Accurate Wealth Management LLC bought a new stake in ArrowMark Financial in the 3rd quarter worth approximately $311,000. Marshall Wace LLP bought a new position in ArrowMark Financial in the second quarter valued at about $386,000. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of ArrowMark Financial by 39.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock worth $489,000 after purchasing an additional 6,284 shares during the period. 24.93% of the stock is owned by institutional investors.

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.