ArrowMark Financial Corp. (NASDAQ:BANX) CFO Acquires $24,196.00 in Stock

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell bought 1,150 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $21.04 per share, with a total value of $24,196.00. Following the transaction, the chief financial officer now owns 7,209 shares in the company, valued at $151,677.36. The trade was a 18.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

ArrowMark Financial Stock Performance

NASDAQ BANX opened at $21.27 on Wednesday. ArrowMark Financial Corp. has a 52 week low of $17.91 and a 52 week high of $21.67. The company has a 50-day moving average price of $21.06 and a two-hundred day moving average price of $20.81.

ArrowMark Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 20th will be given a $0.45 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.80 annualized dividend and a dividend yield of 8.46%.

Institutional Investors Weigh In On ArrowMark Financial

Hedge funds have recently made changes to their positions in the company. Principal Street Partners LLC acquired a new position in ArrowMark Financial in the 4th quarter valued at approximately $261,000. Millennium Management LLC acquired a new position in ArrowMark Financial in the 4th quarter valued at approximately $220,000. Stifel Financial Corp increased its stake in ArrowMark Financial by 4.2% in the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock valued at $3,519,000 after buying an additional 6,683 shares during the period. Raymond James Financial Inc. acquired a new position in ArrowMark Financial in the 4th quarter valued at approximately $3,957,000. Finally, Everstar Asset Management LLC increased its stake in ArrowMark Financial by 6.0% in the 4th quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock valued at $487,000 after buying an additional 1,321 shares during the period. Hedge funds and other 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.