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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,300 shares, a growth of 87.0% from the May 31st total of 2,300 shares. Based on an average daily volume of 16,200 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Investment Advisors LLC increased its stake in ArrowMark Financial by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after acquiring an additional 1,250 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in ArrowMark Financial by 8.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 222,034 shares of the investment management company’s stock worth $4,032,000 after acquiring an additional 16,408 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in ArrowMark Financial during the first quarter worth about $340,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

ArrowMark Financial stock traded down $0.02 during trading on Friday, hitting $18.44. The company’s stock had a trading volume of 44,826 shares, compared to its average volume of 18,504. The stock’s fifty day moving average is $18.38 and its 200 day moving average is $18.43. ArrowMark Financial has a 1-year low of $16.07 and a 1-year high of $19.50.

ArrowMark Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were paid a $0.45 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.80 annualized dividend and a yield of 9.76%.

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.