ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 10.8% in December

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 18,400 shares, an increase of 10.8% from the November 30th total of 16,600 shares. Based on an average daily trading volume, of 23,700 shares, the days-to-cover ratio is currently 0.8 days.

ArrowMark Financial Price Performance

Shares of BANX traded up $0.14 during midday trading on Tuesday, reaching $20.98. The stock had a trading volume of 17,064 shares, compared to its average volume of 19,140. The company’s 50-day moving average is $20.74 and its 200 day moving average is $20.08. ArrowMark Financial has a 12-month low of $17.81 and a 12-month high of $21.67.

ArrowMark Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, December 26th will be issued a $0.45 dividend. The ex-dividend date is Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.58%.

Institutional Trading of ArrowMark Financial

Hedge funds have recently added to or reduced their stakes in the business. Capital Investment Advisors LLC increased its stake in shares of ArrowMark Financial by 4.4% in the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock worth $740,000 after buying an additional 1,496 shares during the period. Pathway Financial Advisers LLC increased its position in shares of ArrowMark Financial by 1,969.1% in the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after acquiring an additional 14,768 shares during the period. Catalina Capital Group LLC bought a new position in shares of ArrowMark Financial during the third quarter valued at about $213,000. Falcon Wealth Planning raised its stake in shares of ArrowMark Financial by 14.4% during the third 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, Oppenheimer & Co. Inc. boosted its holdings in shares of ArrowMark Financial by 15.0% during the third 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 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.