ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Down 19.1% in January

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 19,500 shares, a decrease of 19.1% from the January 15th total of 24,100 shares. Based on an average trading volume of 19,500 shares, the days-to-cover ratio is presently 1.0 days.

Insider Activity

In related news, Director John Scott Emrich sold 2,500 shares of ArrowMark Financial stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $21.28, for a total value of $53,200.00. Following the transaction, the director now directly owns 6,225 shares of the company’s stock, valued at $132,468. The trade was a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of ArrowMark Financial

Institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new position in shares of ArrowMark Financial during the 4th quarter valued at about $58,000. Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial in the 3rd quarter valued at approximately $213,000. Pathway Financial Advisers LLC increased its position in 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 valued at $321,000 after buying an additional 14,768 shares in the last quarter. Falcon Wealth Planning increased its position in ArrowMark Financial by 14.4% during the 3rd 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. Finally, Noble Wealth Management PBC bought a new stake in shares of ArrowMark Financial in the 4th quarter worth $348,000. Hedge funds and other institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Stock Performance

BANX remained flat at $21.00 during trading on Friday. The company’s stock had a trading volume of 7,583 shares, compared to its average volume of 13,828. ArrowMark Financial has a 12-month low of $17.91 and a 12-month high of $21.67. The business’s fifty day simple moving average is $21.01 and its two-hundred day simple moving average is $20.57.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Thursday, December 26th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.57%.

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.