Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Expands By 47.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 11,800 shares, an increase of 47.5% from the August 15th total of 8,000 shares. Based on an average daily trading volume, of 21,400 shares, the days-to-cover ratio is currently 0.6 days.

ArrowMark Financial Stock Down 0.1 %

Shares of NASDAQ:BANX traded down $0.03 on Friday, hitting $20.22. The stock had a trading volume of 11,962 shares, compared to its average volume of 17,034. The firm’s 50 day moving average price is $19.65 and its 200-day moving average price is $18.92. ArrowMark Financial has a twelve month low of $16.28 and a twelve month high of $20.75.

Hedge Funds Weigh In On ArrowMark Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Falcon Wealth Planning bought a new position in shares of ArrowMark Financial in the second quarter valued at about $264,000. Capital Investment Advisors LLC raised its stake in shares of ArrowMark Financial by 3.0% in the second quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock worth $631,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of ArrowMark Financial during the first quarter worth approximately $340,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

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.