ArrowMark Financial (NASDAQ:BANX) Shares Pass Above Fifty Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.99 and traded as high as $21.17. ArrowMark Financial shares last traded at $21.09, with a volume of 21,026 shares.

ArrowMark Financial Trading Up 0.2 %

The business’s fifty day moving average is $20.99 and its 200-day moving average is $20.53.

ArrowMark Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Thursday, December 26th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.54%.

Insiders Place Their Bets

In other news, Director John Scott Emrich sold 2,500 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $21.28, for a total value of $53,200.00. Following the transaction, the director now owns 6,225 shares of the company’s stock, valued at $132,468. This represents a 28.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANX. Raymond James Financial Inc. bought a new stake in ArrowMark Financial during the fourth quarter worth about $3,957,000. Round Rock Advisors LLC bought a new stake in ArrowMark Financial in the 4th quarter worth approximately $896,000. Noble Wealth Management PBC purchased a new stake in ArrowMark Financial in the fourth quarter worth approximately $348,000. Pathway Financial Advisers LLC grew its position in ArrowMark Financial by 1,969.1% during the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after acquiring an additional 14,768 shares during the last quarter. Finally, Catalina Capital Group LLC purchased a new position in shares of ArrowMark Financial during the third quarter worth approximately $213,000. 24.93% of the stock is currently owned by hedge funds and other institutional investors.

ArrowMark Financial Company Profile

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.