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

ArrowMark Financial Corp. (NASDAQ:BANX) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 52,318 shares, a growth of 103.2% from the May 14th total of 25,747 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 52,970 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On ArrowMark Financial

Several institutional investors have recently bought and sold shares of BANX. ArrowMark Colorado Holdings LLC boosted its holdings in ArrowMark Financial by 488.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock worth $17,632,000 after buying an additional 670,749 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in ArrowMark Financial in the 4th quarter worth about $1,513,000. Marshall Wace LLP acquired a new stake in ArrowMark Financial in the 2nd quarter worth about $386,000. Osaic Holdings Inc. boosted its holdings in ArrowMark Financial by 36.9% in the 4th quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock worth $1,022,000 after buying an additional 12,608 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in ArrowMark Financial in the 3rd quarter worth about $205,000. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

NASDAQ BANX traded down $0.01 during trading hours on Monday, reaching $19.38. The company’s stock had a trading volume of 30,768 shares, compared to its average volume of 52,467. The company’s 50-day moving average is $19.61 and its two-hundred day moving average is $20.36. ArrowMark Financial has a 1-year low of $18.45 and a 1-year high of $23.67.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a $0.15 dividend. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Tuesday, June 23rd.

About ArrowMark Financial

ArrowMark Financial Corporation (NASDAQ: BANX) is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed?income and multi?asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.