ArrowMark Financial (NASDAQ:BANX) Shares Pass Above 200 Day Moving Average – Time to Sell?

ArrowMark Financial Corp. (NASDAQ:BANXGet Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.81 and traded as high as $20.58. ArrowMark Financial shares last traded at $20.52, with a volume of 17,944 shares changing hands.

ArrowMark Financial Stock Performance

The firm’s 50 day moving average price is $19.83 and its 200-day moving average price is $19.81.

ArrowMark Financial Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were given a $0.15 dividend. The ex-dividend date was Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 8.8%.

Institutional Trading of ArrowMark Financial

A number of institutional investors have recently made changes to their positions in BANX. ArrowMark Colorado Holdings LLC increased its position in shares of ArrowMark Financial by 488.4% during 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 acquiring an additional 670,749 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in ArrowMark Financial during the 4th quarter worth $1,513,000. Marshall Wace LLP purchased a new stake in shares of ArrowMark Financial during the second quarter worth approximately $386,000. Osaic Holdings Inc. lifted its stake in ArrowMark Financial by 36.9% in the fourth quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock worth $1,022,000 after acquiring an additional 12,608 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of ArrowMark Financial in the 3rd quarter valued at approximately $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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