ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.44 and traded as high as $21.10. ArrowMark Financial shares last traded at $21.06, with a volume of 32,922 shares.

ArrowMark Financial Stock Performance

The company’s 50 day moving average price is $20.46 and its two-hundred day moving average price is $19.84.

ArrowMark Financial Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 24th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 24th.

Institutional Trading of ArrowMark Financial

A number of large investors have recently made changes to their positions in BANX. Integrated Wealth Concepts LLC bought a new position in shares of ArrowMark Financial in the 2nd quarter valued at about $177,000. Almitas Capital LLC bought a new stake in ArrowMark Financial during the second quarter worth approximately $994,000. Trust Co. of Vermont purchased a new stake in ArrowMark Financial during the second quarter valued at approximately $34,000. Noble Wealth Management PBC lifted its stake in shares of ArrowMark Financial by 0.8% in the 2nd quarter. Noble Wealth Management PBC now owns 107,197 shares of the investment management company’s stock valued at $2,096,000 after purchasing an additional 884 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of ArrowMark Financial by 11.4% in the 1st quarter. Private Advisor Group LLC now owns 12,268 shares of the investment management company’s stock worth $234,000 after purchasing an additional 1,257 shares during the period. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Company Profile

ArrowMark Financial Corp. (NASDAQ: BANX) is a closed-end management investment company that has elected to be regulated as a business development company. The company seeks to generate current income and, to a lesser extent, long-term capital appreciation by investing in the securities of financial institutions and other specialty finance businesses.

ArrowMark Financial primarily invests in subordinated debt, preferred equity and common equity securities issued by community banks and other U.S.-based financial companies.