ArrowMark Financial (NASDAQ:BANX) Share Price Passes Below 200-Day Moving Average – Should You Sell?

ArrowMark Financial Corp. (NASDAQ:BANX)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.82 and traded as low as $20.66. ArrowMark Financial shares last traded at $20.66, with a volume of 6,974 shares.

ArrowMark Financial Price Performance

The business has a fifty day moving average price of $21.08 and a 200 day moving average price of $20.82.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 8.71%.

Insider Transactions at ArrowMark Financial

In other ArrowMark Financial news, Director John Scott Emrich sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $21.28, for a total transaction of $53,200.00. Following the transaction, the director now owns 6,225 shares of the company’s stock, valued at approximately $132,468. This trade represents a 28.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Trading of ArrowMark Financial

A number of large investors have recently made changes to their positions in BANX. Raymond James Financial Inc. acquired a new position in ArrowMark Financial during the 4th quarter worth approximately $3,957,000. Round Rock Advisors LLC bought a new stake in ArrowMark Financial in the 4th quarter valued at about $896,000. Noble Wealth Management PBC acquired a new position in ArrowMark Financial during the 4th quarter worth $348,000. Principal Street Partners LLC bought a new position in ArrowMark Financial in the 4th quarter valued at about $261,000. Finally, Millennium Management LLC bought a new stake in ArrowMark Financial during the fourth quarter worth approximately $220,000. 24.93% of the stock is owned by institutional investors and hedge funds.

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.