ArrowMark Financial (NASDAQ:BANX) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of ArrowMark Financial Corp. (NASDAQ:BANX) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.55 and traded as low as $19.62. ArrowMark Financial shares last traded at $19.69, with a volume of 23,546 shares.

ArrowMark Financial Trading Down 0.2%

The business has a fifty day moving average price of $19.45 and a 200 day moving average price of $20.53.

ArrowMark Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be issued a $0.15 dividend. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date is Friday, May 22nd.

Institutional Trading of ArrowMark Financial

Large investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new stake in ArrowMark Financial in the 3rd quarter valued at $204,000. Private Advisor Group LLC acquired a new stake in ArrowMark Financial in the 3rd quarter valued at $205,000. Marshall Wace LLP acquired a new stake in ArrowMark Financial in the 2nd quarter valued at $386,000. Osaic Holdings Inc. increased its holdings 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 purchasing an additional 4,762 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in ArrowMark Financial by 39.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock valued at $489,000 after purchasing an additional 6,284 shares in the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.