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

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Catalina Capital Group LLC purchased a new stake in shares of ArrowMark Financial in the third quarter worth about $213,000. Pathway Financial Advisers LLC lifted its stake in ArrowMark Financial by 1,969.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after purchasing an additional 14,768 shares in the last quarter. Falcon Wealth Planning boosted its holdings in ArrowMark Financial by 14.4% in the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after purchasing an additional 2,054 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in ArrowMark Financial by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after purchasing an additional 2,900 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of ArrowMark Financial by 4.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after purchasing an additional 1,496 shares in the last quarter. Hedge funds and other institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Trading Up 0.7 %

Shares of NASDAQ:BANX traded up $0.14 during trading on Tuesday, hitting $20.98. 17,064 shares of the company were exchanged, compared to its average volume of 19,140. ArrowMark Financial has a 52-week low of $17.81 and a 52-week high of $21.67. The stock has a 50 day moving average of $20.74 and a 200 day moving average of $20.08.

ArrowMark Financial Dividend Announcement

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

ArrowMark Financial Company Profile

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.