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

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 4,300 shares, an increase of 87.0% from the May 31st total of 2,300 shares. Based on an average daily trading volume, of 16,200 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of ArrowMark Financial

A number of large investors have recently made changes to their positions in BANX. Oppenheimer & Co. Inc. bought a new stake in shares of ArrowMark Financial in the 1st quarter valued at $340,000. Capital Investment Advisors LLC increased its position in shares of ArrowMark Financial by 4.0% in the 4th quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock valued at $586,000 after buying an additional 1,250 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of ArrowMark Financial by 8.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 222,034 shares of the investment management company’s stock valued at $4,032,000 after buying an additional 16,408 shares in the last quarter. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Price Performance

Shares of BANX traded down $0.02 during trading hours on Friday, reaching $18.44. The stock had a trading volume of 44,826 shares, compared to its average volume of 18,504. ArrowMark Financial has a 52 week low of $16.07 and a 52 week high of $19.50. The firm has a 50-day moving average of $18.38 and a 200 day moving average of $18.43.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.76%. The ex-dividend date 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.