Short Interest in ArrowMark Financial Corp. (NASDAQ:BANX) Increases By 29.5%

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,700 shares, a growth of 29.5% from the March 31st total of 4,400 shares. Based on an average daily trading volume, of 14,900 shares, the days-to-cover ratio is presently 0.4 days.

ArrowMark Financial Price Performance

BANX opened at $18.35 on Tuesday. The business’s fifty day simple moving average is $18.63 and its 200-day simple moving average is $18.07. ArrowMark Financial has a 12-month low of $13.80 and a 12-month high of $19.50.

ArrowMark Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were given a dividend of $0.45 per share. This is an increase from ArrowMark Financial’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 9.81%.

Institutional Investors Weigh In On ArrowMark Financial

Hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its stake in ArrowMark Financial by 13.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,930 shares of the investment management company’s stock worth $366,000 after buying an additional 2,472 shares in the last quarter. Capital Investment Advisors LLC raised its position in shares of ArrowMark Financial by 4.0% in the 4th quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after acquiring an additional 1,250 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of ArrowMark Financial by 26.2% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 68,070 shares of the investment management company’s stock worth $1,191,000 after purchasing an additional 14,128 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in ArrowMark Financial by 16.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 205,626 shares of the investment management company’s stock valued at $3,596,000 after purchasing an additional 29,184 shares in the last quarter. Hedge funds and other institutional investors own 24.93% of the company’s stock.

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.