ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

ArrowMark Financial Corp. (NASDAQ:BANX) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.51 and traded as high as $21.64. ArrowMark Financial shares last traded at $21.43, with a volume of 5,784 shares traded.

ArrowMark Financial Stock Down 1.0%

The company has a market cap of $152.80 million, a price-to-earnings ratio of 46.59 and a beta of 0.22. The firm has a 50-day simple moving average of $21.51 and a 200 day simple moving average of $20.81.

ArrowMark Financial Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a yield of 810.0%. ArrowMark Financial’s payout ratio is 391.30%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Round Rock Advisors LLC grew its stake in shares of ArrowMark Financial by 283.9% in the 1st quarter. Round Rock Advisors LLC now owns 163,933 shares of the investment management company’s stock valued at $3,451,000 after purchasing an additional 121,233 shares during the last quarter. Everstar Asset Management LLC grew its stake in shares of ArrowMark Financial by 68.7% in the 2nd quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company’s stock valued at $846,000 after purchasing an additional 16,457 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of ArrowMark Financial by 3.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,828 shares of the investment management company’s stock valued at $523,000 after purchasing an additional 899 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of 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 during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of ArrowMark Financial in the 2nd quarter valued at approximately $386,000. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

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.