ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 76.8% in November

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 14,500 shares, an increase 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 currently 0.6 days.

ArrowMark Financial Stock Up 0.1 %

Shares of ArrowMark Financial stock traded up $0.02 during trading on Friday, reaching $20.70. 3,911 shares of the company traded hands, compared to its average volume of 18,887. The company has a 50 day moving average price of $20.57 and a 200-day moving average price of $19.67. ArrowMark Financial has a 1-year low of $16.96 and a 1-year high of $21.67.

ArrowMark Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.70%.

Hedge Funds Weigh In On ArrowMark Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial in the third quarter worth about $213,000. Falcon Wealth Planning purchased a new position in shares of ArrowMark Financial in the second quarter valued at $264,000. Pathway Financial Advisers LLC raised its stake in shares of 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 during the period. Oppenheimer & Co. Inc. lifted its holdings in ArrowMark Financial by 15.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock worth $461,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake 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 purchasing an additional 1,000 shares during the period. 24.93% of the stock is owned by 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.