ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

ArrowMark Financial Corp. (NASDAQ:BANX) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.16 and traded as low as $19.45. ArrowMark Financial shares last traded at $19.60, with a volume of 48,415 shares changing hands.

ArrowMark Financial Price Performance

The company’s fifty day moving average price is $19.62 and its two-hundred day moving average price is $20.14.

ArrowMark Financial Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Institutional Trading of ArrowMark Financial

A number of hedge funds and other institutional investors have recently modified their holdings of BANX. Private Advisor Group LLC bought a new stake in ArrowMark Financial during the third quarter worth about $205,000. Marshall Wace LLP bought a new position in ArrowMark Financial in the second quarter valued at approximately $386,000. Osaic Holdings Inc. increased its position 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. Everstar Asset Management LLC increased its position in shares of ArrowMark Financial by 2.5% during the 1st quarter. Everstar Asset Management LLC now owns 47,345 shares of the investment management company’s stock worth $902,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of ArrowMark Financial during the 4th quarter worth approximately $1,513,000. 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.