ArrowMark Financial (NASDAQ:BANX) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX)’s share 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 stock has a 50-day simple moving average of $19.83 and a 200-day simple moving average of $19.81.

ArrowMark Financial Announces Dividend

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

Institutional Trading of ArrowMark Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC lifted its position in 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 buying an additional 670,749 shares in the last quarter. Raymond James Financial Inc. boosted its position 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 purchasing an additional 1,414 shares during the period. Stifel Financial Corp increased its holdings in ArrowMark Financial by 1.5% in the 4th quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock valued at $3,400,000 after purchasing an additional 2,281 shares in the last quarter. Noble Wealth Management PBC lifted its stake in shares of ArrowMark Financial by 0.8% during the second quarter. Noble Wealth Management PBC now owns 107,197 shares of the investment management company’s stock worth $2,096,000 after purchasing an additional 884 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of ArrowMark Financial in the fourth quarter worth about $1,513,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

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.