ArrowMark Financial Corp. (NASDAQ:BANX) Shares Shorted: Short Interest Down 61.0% in September

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 27,590 shares, a decrease of 61.0% from the September 15th total of 70,761 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 48,124 shares, the days-to-cover ratio is currently 0.6 days.

ArrowMark Financial Trading Up 1.0%

BANX stock traded up $0.20 during midday trading on Tuesday, hitting $20.14. 20,546 shares of the company traded hands, compared to its average volume of 45,316. ArrowMark Financial has a twelve month low of $18.45 and a twelve month high of $22.50. The business has a 50 day simple moving average of $20.55 and a 200-day simple moving average of $19.97.

ArrowMark Financial Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Almitas Capital LLC acquired a new stake in shares of ArrowMark Financial in the second quarter valued at about $994,000. Noble Wealth Management PBC increased its stake in shares of ArrowMark Financial by 15.5% in the third quarter. Noble Wealth Management PBC now owns 123,765 shares of the investment management company’s stock worth $2,458,000 after purchasing an additional 16,568 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of ArrowMark Financial during the 2nd quarter worth about $177,000. Trust Co. of Vermont acquired a new position in shares of ArrowMark Financial during the 2nd quarter worth about $34,000. Finally, Private Advisor Group LLC lifted its position in shares of ArrowMark Financial by 11.4% during the 1st quarter. Private Advisor Group LLC now owns 12,268 shares of the investment management company’s stock worth $234,000 after purchasing an additional 1,257 shares during the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

About ArrowMark Financial

ArrowMark Financial Corp. (NASDAQ: BANX) is a closed-end investment company that has elected to be regulated as a business development company. The company seeks to generate income and, to a lesser extent, capital appreciation by investing in the financial services sector.

ArrowMark Financial primarily invests in debt and equity securities issued by financial institutions, specialty finance companies and other businesses connected to the financial services industry. Its investment activities may include providing capital to banks, insurance companies, asset managers, mortgage-related businesses and other specialty finance firms through a range of privately negotiated and publicly traded securities.

The company was formerly known as StoneCastle Financial Corp.