ArrowMark Financial (NASDAQ:BANX) Stock Passes Below 200-Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.07 and traded as low as $19.09. ArrowMark Financial shares last traded at $19.22, with a volume of 64,837 shares trading hands.

ArrowMark Financial Price Performance

The firm has a 50-day moving average of $19.81 and a two-hundred day moving average of $21.05.

ArrowMark Financial Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 23rd. This represents a c) annualized dividend and a yield of 9.3%.

Hedge Funds Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC increased its position in ArrowMark Financial by 488.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 808,076 shares of the investment management company’s stock worth $17,632,000 after purchasing an additional 670,749 shares in the last quarter. Closed End Fund Advisors Inc. purchased a new stake in ArrowMark Financial during the fourth quarter worth approximately $1,513,000. Marshall Wace LLP purchased a new stake in ArrowMark Financial during the second quarter worth approximately $386,000. Accurate Wealth Management LLC acquired a new stake in shares of ArrowMark Financial in the third quarter worth $311,000. Finally, Osaic Holdings Inc. raised its stake in shares of ArrowMark Financial by 36.9% in the 4th quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock valued at $1,022,000 after acquiring an additional 12,608 shares during the period. 24.93% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Company Profile

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.