ArrowMark Financial (NASDAQ:BANX) Stock Passes Above Fifty Day Moving Average – Time to Sell?

ArrowMark Financial Corp. (NASDAQ:BANX)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $20.82 and traded as high as $21.12. ArrowMark Financial shares last traded at $20.94, with a volume of 5,015 shares trading hands.

ArrowMark Financial Stock Down 0.3 %

The company has a fifty day simple moving average of $20.82 and a 200-day simple moving average of $20.17.

ArrowMark Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Thursday, December 26th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.60%. The ex-dividend date was Thursday, December 26th.

Institutional Trading of ArrowMark Financial

Large investors have recently added to or reduced their stakes in the stock. Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial during the 3rd quarter worth $213,000. Pathway Financial Advisers LLC grew its holdings in shares of ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after purchasing an additional 14,768 shares during the period. Falcon Wealth Planning grew its holdings in shares of ArrowMark Financial by 14.4% during the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after purchasing an additional 2,054 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of ArrowMark Financial by 15.0% during the 3rd 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. Finally, Capital Investment Advisors LLC grew its holdings in shares of ArrowMark Financial by 4.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock worth $740,000 after purchasing an additional 1,496 shares during the period. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

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.