ArrowMark Financial (NASDAQ:BANX) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.84 and traded as high as $20.32. ArrowMark Financial shares last traded at $20.27, with a volume of 50,157 shares trading hands.

ArrowMark Financial Price Performance

The firm’s 50 day moving average price is $19.77 and its 200-day moving average price is $19.85.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 8.8%.

Institutional Trading of ArrowMark Financial

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of ArrowMark Financial in the second 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 buying an additional 4,762 shares during the period. Private Advisor Group LLC bought a new stake in ArrowMark Financial in the 3rd quarter valued at $205,000. Raymond James Financial Inc. raised its stake in shares of ArrowMark Financial by 0.8% in the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock valued at $3,925,000 after buying an additional 1,414 shares in the last quarter. Finally, Everstar Asset Management LLC lifted its holdings in shares of ArrowMark Financial by 4.5% during the 4th quarter. Everstar Asset Management LLC now owns 46,192 shares of the investment management company’s stock worth $1,000,000 after acquiring an additional 2,004 shares during the period. Institutional investors and hedge funds own 24.93% of the company’s stock.

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.