ArrowMark Financial Corp. (NASDAQ:BANX) Sees Large Increase in Short Interest

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 243,520 shares, a growth of 1,615.8% from the December 31st total of 14,193 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 77,997 shares, the days-to-cover ratio is currently 3.1 days. Based on an average trading volume of 77,997 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.4% of the shares of the company are sold short.

ArrowMark Financial Stock Up 2.0%

BANX stock traded up $0.42 during mid-day trading on Tuesday, reaching $21.20. 30,124 shares of the stock traded hands, compared to its average volume of 67,090. The business has a 50-day moving average of $21.76 and a two-hundred day moving average of $21.40. ArrowMark Financial has a 52 week low of $17.99 and a 52 week high of $23.67.

ArrowMark Financial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 3rd will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC bought a new stake in ArrowMark Financial in the 3rd quarter valued at $204,000. Private Advisor Group LLC acquired a new position in shares of ArrowMark Financial during the third quarter valued at about $205,000. Accurate Wealth Management LLC bought a new stake in shares of ArrowMark Financial in the third quarter valued at about $311,000. Catalina Capital Group LLC grew its position in ArrowMark Financial by 51.9% during the second quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company’s stock worth $328,000 after buying an additional 5,354 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in ArrowMark Financial during the second quarter worth about $386,000. Institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Company Profile

ArrowMark Financial Corporation (NASDAQ: BANX) is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.