ArrowMark Financial (NASDAQ:BANX) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.16 and traded as low as $19.45. ArrowMark Financial shares last traded at $19.60, with a volume of 48,415 shares.

ArrowMark Financial Trading Up 0.3%

The company’s 50-day simple moving average is $19.62 and its 200 day simple moving average is $20.16.

ArrowMark Financial Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date was Tuesday, June 23rd.

Institutional Trading of ArrowMark Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC grew its position in 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 worth $17,632,000 after purchasing an additional 670,749 shares during the period. Raymond James Financial Inc. raised its position in ArrowMark Financial by 0.8% during the third 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 in the last quarter. Stifel Financial Corp lifted its holdings in ArrowMark Financial by 1.5% in the fourth quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock valued at $3,400,000 after acquiring an additional 2,281 shares during the period. Noble Wealth Management PBC lifted its holdings in ArrowMark Financial by 0.8% in the second quarter. Noble Wealth Management PBC now owns 107,197 shares of the investment management company’s stock valued at $2,096,000 after acquiring an additional 884 shares during the period. Finally, Closed End Fund Advisors Inc. purchased a new stake in ArrowMark Financial in the 4th quarter worth approximately $1,513,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

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.