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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 25,747 shares, an increase of 88.2% from the April 30th total of 13,682 shares. Based on an average daily volume of 41,591 shares, the short-interest ratio is presently 0.6 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BANX. Belpointe Asset Management LLC bought a new position in shares of ArrowMark Financial in the third quarter valued at $204,000. Private Advisor Group LLC bought a new position in shares of ArrowMark Financial in the third quarter valued at $205,000. Marshall Wace LLP bought a new position in shares of ArrowMark Financial in the second quarter valued at $386,000. Osaic Holdings Inc. increased its holdings 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 buying an additional 4,762 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased 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 buying an additional 6,284 shares in the last quarter. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Price Performance

Shares of NASDAQ:BANX opened at $19.67 on Tuesday. ArrowMark Financial has a 12 month low of $18.45 and a 12 month high of $23.67. The stock’s 50 day moving average price is $19.51 and its 200 day moving average price is $20.47.

ArrowMark Financial Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 22nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a c) annualized dividend and a yield of 9.2%.

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.