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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 14,500 shares, a growth of 76.8% from the October 31st total of 8,200 shares. Based on an average trading volume of 23,500 shares, the days-to-cover ratio is presently 0.6 days.

ArrowMark Financial Trading Up 0.1 %

ArrowMark Financial stock traded up $0.02 during midday trading on Friday, hitting $20.70. The stock had a trading volume of 3,911 shares, compared to its average volume of 18,887. The firm’s fifty day moving average is $20.57 and its two-hundred day moving average is $19.67. ArrowMark Financial has a 52-week low of $16.96 and a 52-week high of $21.67.

ArrowMark Financial Dividend Announcement

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

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANX. Capital Investment Advisors LLC grew its holdings in ArrowMark Financial by 3.0% during the 2nd quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock valued at $631,000 after buying an additional 1,000 shares in the last quarter. Falcon Wealth Planning grew its holdings in ArrowMark Financial by 14.4% during the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after buying an additional 2,054 shares in the last quarter. Oppenheimer & Co. Inc. grew 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 valued at $461,000 after buying an additional 2,900 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in ArrowMark Financial during the 3rd quarter valued at approximately $213,000. Finally, Pathway Financial Advisers LLC grew its holdings in 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 buying an additional 14,768 shares in the last quarter. 24.93% of the stock is owned by hedge funds and other 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.