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

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 8,000 shares, an increase of 56.9% from the July 31st total of 5,100 shares. Based on an average trading volume of 21,000 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in shares of ArrowMark Financial in the 1st quarter worth about $340,000. Capital Investment Advisors LLC lifted its holdings in ArrowMark Financial by 3.0% during the 2nd quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock valued at $631,000 after purchasing an additional 1,000 shares during the last quarter. Falcon Wealth Planning acquired a new position in ArrowMark Financial in the second quarter valued at about $264,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in ArrowMark Financial by 3.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 229,144 shares of the investment management company’s stock worth $4,353,000 after buying an additional 7,110 shares during the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

NASDAQ BANX remained flat at $20.50 during trading on Friday. The company’s stock had a trading volume of 14,874 shares, compared to its average volume of 17,177. ArrowMark Financial has a 12 month low of $16.28 and a 12 month high of $20.75. The stock has a fifty day moving average price of $19.25 and a 200 day moving average price of $18.76.

ArrowMark Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.78%. The ex-dividend date of this dividend was Monday, June 24th.

About ArrowMark Financial

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.