ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Increase in Short Interest
by Amy Steele · The Cerbat GemArrowMark Financial Corp. (NASDAQ:BANX – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 20,451 shares, an increase of 99.4% from the March 15th total of 10,256 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 36,007 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Trading of ArrowMark Financial
Several institutional investors have recently made changes to their positions in BANX. Marshall Wace LLP purchased a new stake in shares of ArrowMark Financial during the 2nd quarter valued at approximately $386,000. Osaic Holdings Inc. raised its position in shares of ArrowMark Financial by 26.5% during 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. Accurate Wealth Management LLC purchased a new stake in shares of ArrowMark Financial during the 3rd quarter valued at approximately $311,000. Belpointe Asset Management LLC purchased a new stake in shares of ArrowMark Financial during the 3rd quarter valued at approximately $204,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of ArrowMark Financial by 39.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock valued at $489,000 after buying an additional 6,284 shares during the period. Hedge funds and other institutional investors own 24.93% of the company’s stock.
ArrowMark Financial Stock Up 0.3%
BANX stock opened at $19.48 on Friday. The firm’s 50 day moving average price is $19.60 and its 200-day moving average price is $20.93. ArrowMark Financial has a one year low of $18.37 and a one year high of $23.67.
ArrowMark Financial Announces Dividend
The company also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.15 per share. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, March 23rd.
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.