ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 28.0% in September

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 15,100 shares, an increase of 28.0% from the August 31st total of 11,800 shares. Based on an average daily trading volume, of 21,400 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On ArrowMark Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BANX. Falcon Wealth Planning acquired a new position in shares of ArrowMark Financial during the 2nd quarter valued at $264,000. Oppenheimer & Co. Inc. bought a new position in shares of ArrowMark Financial during the 1st quarter valued at about $340,000. Finally, Capital Investment Advisors LLC boosted its holdings in shares of ArrowMark Financial by 3.0% in the second quarter. Capital Investment Advisors LLC now owns 34,250 shares of the investment management company’s stock worth $631,000 after buying an additional 1,000 shares during the period. 24.93% of the stock is currently owned by institutional investors and hedge funds.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX traded up $0.23 during midday trading on Friday, hitting $20.53. 10,428 shares of the company’s stock were exchanged, compared to its average volume of 17,441. The stock’s 50 day moving average price is $19.99 and its 200-day moving average price is $19.06. ArrowMark Financial has a twelve month low of $16.28 and a twelve month high of $21.67.

ArrowMark Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.80 annualized dividend and a dividend yield of 8.77%.

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.