ArrowMark Financial Corp. (NASDAQ:BANX) CFO Buys $24,196.00 in Stock

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell acquired 1,150 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $21.04 per share, for a total transaction of $24,196.00. Following the purchase, the chief financial officer now directly owns 7,209 shares in the company, valued at approximately $151,677.36. The trade was a 18.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ArrowMark Financial Stock Performance

Shares of ArrowMark Financial stock traded up $0.06 during trading on Monday, hitting $21.14. The stock had a trading volume of 28,587 shares, compared to its average volume of 20,058. The stock has a 50 day simple moving average of $21.05 and a 200 day simple moving average of $20.80. ArrowMark Financial Corp. has a 1 year low of $17.91 and a 1 year high of $21.67.

ArrowMark Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 20th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.51%. The ex-dividend date of this dividend is Thursday, March 20th.

Institutional Trading of ArrowMark Financial

Several institutional investors have recently made changes to their positions in BANX. Trust Co. of Vermont acquired a new stake in shares of ArrowMark Financial during the fourth quarter worth approximately $58,000. Millennium Management LLC acquired a new stake in ArrowMark Financial in the fourth quarter valued at approximately $220,000. Principal Street Partners LLC acquired a new stake in ArrowMark Financial in the fourth quarter valued at approximately $261,000. Noble Wealth Management PBC acquired a new stake in ArrowMark Financial in the fourth quarter valued at approximately $348,000. Finally, Falcon Wealth Planning lifted its stake in ArrowMark Financial by 15.3% in the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after acquiring an additional 2,500 shares during the last quarter. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Company Profile

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.