ArrowMark Financial (NASDAQ:BANX) Shares Cross Above 50 Day Moving Average – What’s Next?

ArrowMark Financial Corp. (NASDAQ:BANXGet Free Report) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $19.66 and traded as high as $20.08. ArrowMark Financial shares last traded at $20.07, with a volume of 29,399 shares traded.

ArrowMark Financial Trading Up 0.5%

The firm has a fifty day moving average of $19.66 and a 200 day moving average of $20.06.

ArrowMark Financial Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 9.0%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC boosted its stake in shares of ArrowMark Financial by 488.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock valued at $17,632,000 after purchasing an additional 670,749 shares during the period. Raymond James Financial Inc. increased its stake in ArrowMark Financial by 0.8% during the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock worth $3,925,000 after buying an additional 1,414 shares during the period. Stifel Financial Corp increased its stake in ArrowMark Financial by 1.5% during the 4th quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock worth $3,400,000 after buying an additional 2,281 shares during the period. Noble Wealth Management PBC lifted its holdings in ArrowMark Financial by 0.8% in the 2nd quarter. Noble Wealth Management PBC now owns 107,197 shares of the investment management company’s stock worth $2,096,000 after buying an additional 884 shares in the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in ArrowMark Financial in the 4th quarter worth $1,513,000. 24.93% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Company Profile

(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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