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 company’s stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $21.04 per share, with a total value of $24,196.00. Following the transaction, the chief financial officer now directly owns 7,209 shares in the company, valued at approximately $151,677.36. The trade was a 18.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ArrowMark Financial Price Performance

BANX opened at $21.27 on Wednesday. The company has a 50-day moving average of $21.06 and a 200-day moving average of $20.81. ArrowMark Financial Corp. has a 1-year low of $17.91 and a 1-year high of $21.67.

ArrowMark Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.46%. The ex-dividend date of this dividend is Thursday, March 20th.

Institutional Investors Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently modified their holdings of BANX. Trust Co. of Vermont bought a new stake in shares of ArrowMark Financial in the 4th quarter worth about $58,000. Millennium Management LLC bought a new stake in shares of ArrowMark Financial during the 4th quarter valued at about $220,000. Principal Street Partners LLC bought a new stake in shares of ArrowMark Financial during the 4th quarter valued at about $261,000. Noble Wealth Management PBC bought a new stake in shares of ArrowMark Financial during the 4th quarter valued at about $348,000. Finally, Falcon Wealth Planning grew its position in shares of ArrowMark Financial by 15.3% during the 4th quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after buying 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.