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

ArrowMark Financial Corp. (NASDAQ:BANX) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 21,424 shares, an increase of 34.1% from the November 30th total of 15,975 shares. Based on an average daily volume of 31,265 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 31,265 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On ArrowMark Financial

Large investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of ArrowMark Financial in the 2nd quarter valued at about $386,000. Everstar Asset Management LLC raised its holdings in ArrowMark Financial by 68.7% in the second quarter. Everstar Asset Management LLC now owns 40,422 shares of the investment management company’s stock valued at $846,000 after buying an additional 16,457 shares during the period. Accurate Wealth Management LLC acquired a new position in ArrowMark Financial during the third quarter valued at approximately $311,000. Private Advisor Group LLC purchased a new stake in ArrowMark Financial during the third quarter worth approximately $205,000. Finally, Belpointe Asset Management LLC purchased a new stake in ArrowMark Financial during the third quarter worth approximately $204,000. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

ArrowMark Financial Stock Performance

Shares of BANX stock opened at $21.90 on Wednesday. The firm has a market capitalization of $156.15 million, a price-to-earnings ratio of 47.61 and a beta of 0.19. The company has a 50 day moving average price of $21.65 and a 200 day moving average price of $21.30. ArrowMark Financial has a one year low of $17.99 and a one year high of $23.67.

ArrowMark Financial Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 22nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 22nd. ArrowMark Financial’s dividend payout ratio (DPR) is presently 391.30%.

About ArrowMark Financial

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.