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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 14,500 shares, a growth of 76.8% from the October 31st total of 8,200 shares. Based on an average daily volume of 23,500 shares, the days-to-cover ratio is presently 0.6 days.

ArrowMark Financial Price Performance

Shares of NASDAQ BANX traded down $0.06 on Thursday, hitting $20.68. The company had a trading volume of 31,307 shares, compared to its average volume of 18,952. ArrowMark Financial has a 12-month low of $16.90 and a 12-month high of $21.67. The business has a 50 day moving average of $20.59 and a two-hundred day moving average of $19.65.

ArrowMark Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Trading of ArrowMark Financial

Hedge funds have recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after purchasing an additional 14,768 shares in the last quarter. Falcon Wealth Planning acquired a new stake in shares of ArrowMark Financial during the second quarter valued at about $264,000. Catalina Capital Group LLC purchased a new stake in shares of ArrowMark Financial during the third quarter worth about $213,000. Oppenheimer & Co. Inc. lifted its stake in shares of ArrowMark Financial by 15.0% in the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock worth $461,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in ArrowMark Financial by 4.4% in the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after purchasing an additional 1,496 shares during the last quarter. 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.