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

ArrowMark Financial Corp. (NASDAQ:BANX) shares 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 trading hands.

ArrowMark Financial Trading Up 0.3%

The stock’s fifty day moving average is $19.62 and its 200-day moving average is $20.16.

ArrowMark Financial Dividend Announcement

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

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC acquired a new position in ArrowMark Financial in the 3rd quarter worth about $205,000. Marshall Wace LLP purchased a new position in shares of ArrowMark Financial during the 2nd quarter valued at approximately $386,000. Osaic Holdings Inc. grew its stake in ArrowMark Financial by 26.5% in the 2nd 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 period. Everstar Asset Management LLC grew its stake in ArrowMark Financial by 2.5% in the 1st quarter. Everstar Asset Management LLC now owns 47,345 shares of the investment management company’s stock valued at $902,000 after acquiring an additional 1,153 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new stake in ArrowMark Financial in the 4th quarter valued at $1,513,000. Hedge funds and other institutional investors 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.