Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Expands By 47.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 11,800 shares, an increase of 47.5% from the August 15th total of 8,000 shares. Based on an average daily volume of 21,400 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new stake in ArrowMark Financial during the first quarter valued at about $340,000. Falcon Wealth Planning acquired a new stake in ArrowMark Financial in the 2nd quarter valued at approximately $264,000. Finally, Capital Investment Advisors LLC increased its position in 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 period. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Down 0.1 %

ArrowMark Financial stock traded down $0.03 during trading hours on Friday, reaching $20.22. 11,962 shares of the company were exchanged, compared to its average volume of 17,034. ArrowMark Financial has a 12 month low of $16.28 and a 12 month high of $20.75. The stock has a 50-day moving average of $19.65 and a 200 day moving average of $18.92.

ArrowMark Financial Company Profile

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.