Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Declines By 40.0%

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 5,100 shares, a decline of 40.0% from the September 30th total of 8,500 shares. Based on an average daily volume of 21,200 shares, the short-interest ratio is presently 0.2 days.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX traded up $0.34 during midday trading on Monday, hitting $20.54. The company’s stock had a trading volume of 21,862 shares, compared to its average volume of 18,211. The stock has a fifty day moving average price of $20.42 and a 200 day moving average price of $19.28. ArrowMark Financial has a one year low of $16.40 and a one year high of $21.67.

ArrowMark Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Trading of ArrowMark Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of BANX. Oppenheimer & Co. Inc. bought a new stake in ArrowMark Financial during the 1st quarter worth approximately $340,000. Capital Investment Advisors LLC grew 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 worth $631,000 after buying an additional 1,000 shares in the last quarter. Falcon Wealth Planning purchased a new position in ArrowMark Financial in the 2nd quarter worth approximately $264,000. Finally, Pathway Financial Advisers LLC grew its stake in ArrowMark Financial by 1,969.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after buying an additional 14,768 shares in the last quarter. Institutional investors own 24.93% of the company’s stock.

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.