ArrowMark Financial (NASDAQ:BANX) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of ArrowMark Financial Corp. (NASDAQ:BANX) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $20.82 and traded as high as $21.12. ArrowMark Financial shares last traded at $20.94, with a volume of 5,015 shares trading hands.

ArrowMark Financial Trading Down 0.2 %

The business has a fifty day moving average price of $20.82 and a two-hundred day moving average price of $20.19.

ArrowMark Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Thursday, December 26th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.80 annualized dividend and a yield of 8.61%.

Institutional Trading of ArrowMark Financial

A number of institutional investors have recently bought and sold shares of BANX. Oppenheimer & Co. Inc. grew its stake in shares of ArrowMark Financial by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after buying an additional 2,900 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of ArrowMark Financial during the 3rd quarter valued at $213,000. Falcon Wealth Planning lifted its stake in shares of ArrowMark Financial by 14.4% in the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock valued at $339,000 after purchasing an additional 2,054 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in ArrowMark Financial by 1,969.1% in the third quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after purchasing an additional 14,768 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in ArrowMark Financial by 4.4% during the third quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock worth $740,000 after buying an additional 1,496 shares during the last quarter. Institutional investors and hedge funds 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.