ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Growth in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 52,318 shares, a growth of 103.2% from the May 14th total of 25,747 shares. Based on an average trading volume of 52,970 shares, the short-interest ratio is currently 1.0 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Trading of ArrowMark Financial

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new stake in ArrowMark Financial in the third quarter valued at approximately $205,000. Marshall Wace LLP bought a new stake in ArrowMark Financial in the second quarter valued at approximately $386,000. Osaic Holdings Inc. boosted its holdings in 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 acquiring an additional 4,762 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in 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 acquiring an additional 6,284 shares during the last quarter. Finally, Everstar Asset Management LLC boosted its holdings in ArrowMark Financial by 2.5% in the first 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 last quarter. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Stock Performance

BANX stock traded down $0.03 during trading on Friday, hitting $19.38. The company had a trading volume of 22,585 shares, compared to its average volume of 39,641. The business has a 50-day moving average of $19.61 and a 200-day moving average of $20.37. ArrowMark Financial has a one year low of $18.45 and a one year high of $23.67.

ArrowMark Financial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a $0.15 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 9.3%.

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.