ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 14.5% in November

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 16,600 shares, a growth of 14.5% from the November 15th total of 14,500 shares. Based on an average trading volume of 23,500 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its position in shares of ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after purchasing an additional 14,768 shares during the last quarter. Catalina Capital Group LLC bought a new position in ArrowMark Financial during the 3rd quarter worth approximately $213,000. Oppenheimer & Co. Inc. grew its position in shares of ArrowMark Financial by 15.0% in the 3rd 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. Falcon Wealth Planning increased its holdings in shares of ArrowMark Financial by 14.4% in the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after acquiring an additional 2,054 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of ArrowMark Financial by 4.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after acquiring an additional 1,496 shares in the last quarter. 24.93% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Stock Up 0.0 %

NASDAQ BANX traded up $0.01 on Friday, reaching $20.77. The company had a trading volume of 12,125 shares, compared to its average volume of 18,720. ArrowMark Financial has a 1 year low of $17.58 and a 1 year high of $21.67. The firm has a 50-day moving average of $20.59 and a 200-day moving average of $19.85.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Thursday, December 26th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.67%.

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.