ArrowMark Financial (NASDAQ:BANX) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of ArrowMark Financial Corp. (NASDAQ:BANX – Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.49 and traded as low as $19.74. ArrowMark Financial shares last traded at $19.85, with a volume of 72,783 shares.

ArrowMark Financial Trading Down 0.3%

The company’s fifty day simple moving average is $19.51 and its two-hundred day simple moving average is $20.48.

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ArrowMark Financial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend was Friday, May 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BANX. Marshall Wace LLP acquired a new position in ArrowMark Financial during the 2nd quarter worth $386,000. Osaic Holdings Inc. grew its holdings in ArrowMark Financial by 26.5% during the 2nd quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock worth $476,000 after acquiring an additional 4,762 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of ArrowMark Financial in the 3rd quarter worth about $204,000. Oppenheimer & Co. Inc. lifted its position in shares of ArrowMark Financial by 39.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock worth $489,000 after buying an additional 6,284 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of ArrowMark Financial in the 3rd quarter worth about $205,000. 24.93% of the stock is owned by institutional investors and hedge funds.

About ArrowMark Financial

(Get Free Report)

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.

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