ArrowMark Financial (NASDAQ:BANX) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

ArrowMark Financial Corp. (NASDAQ:BANX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.36 and traded as low as $19.75. ArrowMark Financial shares last traded at $19.90, with a volume of 88,244 shares.

ArrowMark Financial Trading Up 0.5%

The firm has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $21.37.

ArrowMark Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 3rd will be given a $0.15 dividend. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date is Tuesday, February 3rd.

Hedge Funds Weigh In On ArrowMark Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. raised its holdings in shares of ArrowMark Financial by 0.8% in the third quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock worth $3,925,000 after acquiring an additional 1,414 shares during the last quarter. Everstar Asset Management LLC increased its position in ArrowMark Financial by 4.5% during the 4th quarter. Everstar Asset Management LLC now owns 46,192 shares of the investment management company’s stock worth $1,000,000 after purchasing an additional 2,004 shares in the last quarter. Stifel Financial Corp raised its stake in ArrowMark Financial by 1.5% in the 4th quarter. Stifel Financial Corp now owns 155,804 shares of the investment management company’s stock valued at $3,400,000 after purchasing an additional 2,281 shares during the last quarter. Noble Wealth Management PBC lifted its holdings in ArrowMark Financial by 3.9% in the 4th quarter. Noble Wealth Management PBC now owns 80,711 shares of the investment management company’s stock valued at $1,761,000 after purchasing an additional 3,032 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of ArrowMark Financial by 26.5% during the 2nd quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock worth $476,000 after purchasing an additional 4,762 shares during the last quarter. Institutional investors and hedge funds 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.