ArrowMark Financial (NASDAQ:BANX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

ArrowMark Financial Corp. (NASDAQ:BANX)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.84 and traded as high as $20.32. ArrowMark Financial shares last traded at $20.27, with a volume of 50,157 shares traded.

ArrowMark Financial Price Performance

The firm’s 50-day moving average is $19.75 and its 200-day moving average is $19.84.

ArrowMark Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Friday, July 24th.

Institutional Investors Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC lifted its position 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 valued at $17,632,000 after acquiring an additional 670,749 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new position in ArrowMark Financial during the 4th quarter valued at about $1,513,000. Marshall Wace LLP bought a new stake in ArrowMark Financial during the 2nd quarter worth approximately $386,000. Osaic Holdings Inc. increased its holdings in ArrowMark Financial by 36.9% during the 4th quarter. Osaic Holdings Inc. now owns 46,816 shares of the investment management company’s stock worth $1,022,000 after purchasing an additional 12,608 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of ArrowMark Financial in the third quarter worth approximately $205,000. Institutional investors and hedge funds own 24.93% of the company’s stock.

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.