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

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,000 shares, a growth of 56.9% from the July 31st total of 5,100 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is currently 0.4 days.

ArrowMark Financial Trading Up 0.4 %

NASDAQ BANX traded up $0.09 on Thursday, reaching $20.55. The company had a trading volume of 5,315 shares, compared to its average volume of 17,147. The company’s fifty day moving average is $19.22 and its 200 day moving average is $18.74. ArrowMark Financial has a 52-week low of $16.28 and a 52-week high of $20.75.

ArrowMark Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were issued a $0.45 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.80 annualized dividend and a dividend yield of 8.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Falcon Wealth Planning purchased a new stake in ArrowMark Financial in the 2nd quarter valued at about $264,000. Oppenheimer & Co. Inc. bought a new position in ArrowMark Financial in the 1st quarter valued at $340,000. Capital Investment Advisors LLC boosted its holdings in shares of 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 during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in ArrowMark Financial by 3.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 229,144 shares of the investment management company’s stock valued at $4,353,000 after buying an additional 7,110 shares during the period. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

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.