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

ArrowMark Financial Corp. (NASDAQ:BANX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.84 and traded as high as $20.32. ArrowMark Financial shares last traded at $20.27, with a volume of 50,157 shares changing hands.

ArrowMark Financial Trading Up 0.6%

The company has a 50-day moving average of $19.75 and a 200-day moving average of $19.84.

ArrowMark Financial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be given a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Friday, July 24th.

Hedge Funds Weigh In On ArrowMark Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in ArrowMark Financial in the third quarter valued at approximately $205,000. Marshall Wace LLP bought a new position in ArrowMark Financial during the 2nd quarter worth approximately $386,000. Osaic Holdings Inc. raised its holdings in 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 lifted its position in shares of ArrowMark Financial by 4.5% in 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 during the period. Finally, Closed End Fund Advisors Inc. acquired a new position in ArrowMark Financial in the fourth quarter valued at $1,513,000. 24.93% of the stock is owned by institutional investors and hedge funds.

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.