Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Grows By 98.9%

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant growth in short interest in 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. Currently, 6.8% of the company’s stock are sold short. Based on an average trading volume of 69,945 shares, the short-interest ratio is presently 6.9 days. Based on an average trading volume of 69,945 shares, the short-interest ratio is presently 6.9 days. Currently, 6.8% of the company’s stock are sold short.

ArrowMark Financial Stock Down 0.1%

BANX stock opened at $20.01 on Friday. The stock’s 50 day simple moving average is $21.53 and its 200 day simple moving average is $21.39. ArrowMark Financial has a 12-month low of $17.99 and a 12-month high of $23.67.

ArrowMark Financial Announces Dividend

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

Institutional Trading of ArrowMark Financial

A number of large investors have recently made changes to their positions in BANX. Closed End Fund Advisors Inc. bought a new position in ArrowMark Financial during the fourth quarter valued at approximately $1,513,000. Marshall Wace LLP purchased a new stake in ArrowMark Financial during the 2nd quarter valued at $386,000. Everstar Asset Management LLC lifted its holdings in shares of ArrowMark Financial by 68.7% during the 2nd quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company’s stock valued at $846,000 after buying an additional 16,457 shares during the period. Accurate Wealth Management LLC purchased a new position in shares of ArrowMark Financial in the 3rd quarter worth $311,000. Finally, Private Advisor Group LLC bought a new stake in shares of ArrowMark Financial in the third quarter worth $205,000. 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.