Capital Investment Advisors LLC Sells 5,000 Shares of ArrowMark Financial Corp. (NASDAQ:BANX)

Capital Investment Advisors LLC reduced its stake in shares of ArrowMark Financial Corp. (NASDAQ:BANX) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,746 shares of the investment management company’s stock after selling 5,000 shares during the quarter. Capital Investment Advisors LLC’s holdings in ArrowMark Financial were worth $645,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Falcon Wealth Planning increased its stake in shares of ArrowMark Financial by 14.4% in the third quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after buying an additional 2,054 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in ArrowMark Financial by 15.0% in the third quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock worth $461,000 after purchasing an additional 2,900 shares during the period. Catalina Capital Group LLC bought a new position in ArrowMark Financial during the third quarter worth about $213,000. Finally, Pathway Financial Advisers LLC boosted its holdings in ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after buying an additional 14,768 shares during the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

Shares of BANX opened at $20.47 on Thursday. ArrowMark Financial Corp. has a 1 year low of $17.81 and a 1 year high of $21.67. The stock’s 50-day moving average price is $20.81 and its two-hundred day moving average price is $20.26.

ArrowMark Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Thursday, December 26th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.79%. The ex-dividend date of this dividend was Thursday, December 26th.

About ArrowMark Financial

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.