ArrowMark Financial Corp. (NASDAQ:BANX) Sees Significant Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant increase in short interest during 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 trading volume of 36,007 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On ArrowMark Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Belpointe Asset Management LLC bought a new position in shares of ArrowMark Financial during the third quarter valued at approximately $204,000. Private Advisor Group LLC bought a new position in shares of ArrowMark Financial during the third quarter valued at approximately $205,000. Accurate Wealth Management LLC bought a new position in shares of ArrowMark Financial during the third quarter valued at approximately $311,000. Marshall Wace LLP bought a new position in shares of ArrowMark Financial during the second quarter valued at approximately $386,000. Finally, Osaic Holdings Inc. raised its stake 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 worth $476,000 after buying an additional 4,762 shares in the last quarter. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Price Performance

Shares of NASDAQ:BANX opened at $19.48 on Monday. The company has a 50-day moving average price of $19.60 and a 200-day moving average price of $20.92. ArrowMark Financial has a 12 month low of $18.37 and a 12 month high of $23.67.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid 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.

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.