ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 62.6% in February

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 31,700 shares, an increase of 62.6% from the January 31st total of 19,500 shares. Based on an average daily trading volume, of 17,400 shares, the days-to-cover ratio is currently 1.8 days.

Insider Activity

In other ArrowMark Financial news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the completion of the transaction, the director now directly owns 6,225 shares in the company, valued at $132,468. This represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Street Partners LLC acquired a new stake in shares of ArrowMark Financial in the fourth quarter valued at approximately $261,000. Millennium Management LLC acquired a new stake in shares of ArrowMark Financial in the 4th quarter valued at $220,000. Stifel Financial Corp raised its position in shares of ArrowMark Financial by 4.2% during the fourth quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock worth $3,519,000 after acquiring an additional 6,683 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of ArrowMark Financial during the fourth quarter worth $3,957,000. Finally, Everstar Asset Management LLC lifted its stake in shares of ArrowMark Financial by 6.0% during the fourth quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock valued at $487,000 after acquiring an additional 1,321 shares during the period. Institutional investors and hedge funds own 24.93% of the company’s stock.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX traded up $0.02 during mid-day trading on Tuesday, hitting $21.03. 8,945 shares of the stock were exchanged, compared to its average volume of 19,562. ArrowMark Financial has a twelve month low of $17.91 and a twelve month high of $21.67. The stock’s fifty day simple moving average is $21.06 and its two-hundred day simple moving average is $20.73.

ArrowMark Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Thursday, December 26th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.56%. The ex-dividend date was Thursday, December 26th.

ArrowMark Financial Company Profile

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.