ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 243,520 shares, a growth of 1,615.8% from the December 31st total of 14,193 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average trading volume of 77,997 shares, the short-interest ratio is presently 3.1 days. Based on an average trading volume of 77,997 shares, the short-interest ratio is presently 3.1 days. Currently, 3.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalina Capital Group LLC increased its position in shares of ArrowMark Financial by 51.9% during the 2nd quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company’s stock worth $328,000 after purchasing an additional 5,354 shares in the last quarter. Everstar Asset Management LLC grew its stake in ArrowMark Financial by 68.7% during the second quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company’s stock worth $846,000 after buying an additional 16,457 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of ArrowMark Financial during the second quarter worth approximately $386,000. Osaic Holdings Inc. raised its stake in shares of ArrowMark Financial by 26.5% in the second quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock valued at $476,000 after acquiring an additional 4,762 shares during the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in shares of ArrowMark Financial in the 3rd quarter worth approximately $311,000. 24.93% of the stock is owned by institutional investors.

ArrowMark Financial Stock Performance

NASDAQ:BANX traded up $0.42 during mid-day trading on Tuesday, hitting $21.20. The company’s stock had a trading volume of 30,124 shares, compared to its average volume of 67,090. ArrowMark Financial has a fifty-two week low of $17.99 and a fifty-two week high of $23.67. The stock has a fifty day moving average of $21.76 and a 200-day moving average of $21.40.

ArrowMark Financial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.15 per share. This represents a c) annualized dividend and a dividend yield of 8.5%. The ex-dividend date is Tuesday, February 3rd.

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.