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

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 31,700 shares, a growth of 62.6% from the January 31st total of 19,500 shares. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is presently 1.8 days.

ArrowMark Financial Stock Up 0.1 %

NASDAQ:BANX traded up $0.02 on Tuesday, reaching $21.03. The company’s stock had a trading volume of 8,945 shares, compared to its average volume of 19,562. ArrowMark Financial has a 1-year low of $17.91 and a 1-year high of $21.67. The business’s 50-day moving average price is $21.06 and its two-hundred day moving average price is $20.73.

ArrowMark Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Thursday, December 26th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a yield of 8.56%.

Insider Buying and Selling

In other news, Director John Scott Emrich sold 2,500 shares of ArrowMark Financial stock in a transaction on Friday, January 24th. The shares were sold at an average price of $21.28, for a total transaction of $53,200.00. Following the transaction, the director now directly owns 6,225 shares of the company’s stock, valued at $132,468. This trade represents a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Trading of ArrowMark Financial

Several hedge funds have recently bought and sold shares of BANX. Trust Co. of Vermont acquired a new stake in shares of ArrowMark Financial during the fourth quarter worth $58,000. Catalina Capital Group LLC acquired a new stake in shares of ArrowMark Financial in the 3rd quarter valued at about $213,000. Millennium Management LLC bought a new stake in shares of ArrowMark Financial in the fourth quarter valued at about $220,000. Principal Street Partners LLC acquired a new position in shares of ArrowMark Financial during the fourth quarter worth about $261,000. Finally, Falcon Wealth Planning boosted its position in shares of ArrowMark Financial by 14.4% during the third quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after buying an additional 2,054 shares during the period. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.