Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Rises By 60.8%

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,200 shares, an increase of 60.8% from the October 15th total of 5,100 shares. Based on an average daily volume of 24,000 shares, the short-interest ratio is currently 0.3 days.

ArrowMark Financial Stock Performance

Shares of BANX opened at $20.40 on Friday. ArrowMark Financial has a one year low of $16.90 and a one year high of $21.67. The company has a 50-day simple moving average of $20.54 and a two-hundred day simple moving average of $19.50.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Investors Weigh In On ArrowMark Financial

Large investors have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC grew its holdings in ArrowMark Financial by 4.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after purchasing an additional 1,496 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in ArrowMark Financial by 15.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after purchasing an additional 2,900 shares during the last quarter. Falcon Wealth Planning grew its holdings in ArrowMark Financial by 14.4% during the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after purchasing an additional 2,054 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after purchasing an additional 14,768 shares during the last quarter. Finally, Catalina Capital Group LLC bought a new position in ArrowMark Financial in the 3rd quarter worth about $213,000. Institutional investors own 24.93% of the company’s stock.

About ArrowMark Financial

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.