ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Decrease in Short Interest

Posted by Karen Miller on Oct 11th, 2024

ArrowMark Financial Corp. (NASDAQ:BANX – Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 8,500 shares, a decrease of 43.7% from the September 15th total of 15,100 shares. Based on an average daily trading volume, of 19,700 shares, the days-to-cover ratio is currently 0.4 days.

ArrowMark Financial Stock Down 1.3 %

Shares of BANX stock opened at $20.14 on Friday. The stock has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $19.16. ArrowMark Financial has a 1-year low of $16.28 and a 1-year high of $21.67.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.94%. The ex-dividend date was Thursday, September 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BANX. Oppenheimer & Co. Inc. acquired a new position in ArrowMark Financial in the 1st quarter valued at $340,000. Falcon Wealth Planning acquired a new position in ArrowMark Financial in the 2nd quarter valued at $264,000. Finally, Capital Investment Advisors LLC raised its stake in ArrowMark Financial by 3.0% in 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. 24.93% of the stock is owned by institutional investors and hedge funds.

About ArrowMark Financial

(Get Free Report)

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.