ArrowMark Financial (NASDAQ:BANX) Share Price Passes Below 200-Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.49 and traded as low as $19.74. ArrowMark Financial shares last traded at $19.85, with a volume of 72,783 shares trading hands.

ArrowMark Financial Stock Performance

The business has a 50-day moving average price of $19.50 and a 200 day moving average price of $20.49.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be paid a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Friday, May 22nd.

Institutional Trading of ArrowMark Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC raised its stake in shares of ArrowMark Financial by 488.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock valued at $17,632,000 after purchasing an additional 670,749 shares during the period. Raymond James Financial Inc. raised its stake in shares of ArrowMark Financial by 0.8% during 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 purchasing an additional 1,414 shares during the period. Stifel Financial Corp raised its stake in shares of ArrowMark Financial by 1.5% during the 4th quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock valued at $3,400,000 after purchasing an additional 2,281 shares during the period. Noble Wealth Management PBC raised its stake in shares of ArrowMark Financial by 3.9% during the 4th quarter. Noble Wealth Management PBC now owns 80,711 shares of the investment management company’s stock valued at $1,761,000 after purchasing an additional 3,032 shares during the period. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of ArrowMark Financial during the 4th quarter valued at $1,513,000. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Company Profile

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.