Patrick Joseph Farrell Acquires 1,150 Shares of ArrowMark Financial Corp. (NASDAQ:BANX) Stock

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell bought 1,150 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $21.04 per share, for a total transaction of $24,196.00. Following the acquisition, the chief financial officer now directly owns 7,209 shares of the company’s stock, valued at approximately $151,677.36. This represents a 18.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ArrowMark Financial Price Performance

BANX stock opened at $21.14 on Tuesday. ArrowMark Financial Corp. has a one year low of $17.91 and a one year high of $21.67. The company’s fifty day moving average price is $21.06 and its 200-day moving average price is $20.80.

ArrowMark Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 20th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.51%. The ex-dividend date of this dividend is Thursday, March 20th.

Institutional Investors Weigh In On ArrowMark Financial

Several large investors have recently bought and sold shares of BANX. Trust Co. of Vermont bought a new stake in ArrowMark Financial in the fourth quarter worth $58,000. Millennium Management LLC bought a new stake in ArrowMark Financial in the fourth quarter worth $220,000. Principal Street Partners LLC bought a new stake in ArrowMark Financial in the fourth quarter worth $261,000. Noble Wealth Management PBC bought a new stake in ArrowMark Financial in the fourth quarter worth $348,000. Finally, Falcon Wealth Planning increased its position in ArrowMark Financial by 15.3% during the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 24.93% of the company’s stock.

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.