ArrowMark Financial (NASDAQ:BANX) Stock Price Passes Above 50-Day Moving Average – Here’s Why

ArrowMark Financial Corp. (NASDAQ:BANX) shares 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 Stock Up 0.2 %

The business has a 50 day moving average price of $20.99 and a two-hundred day moving average price of $20.53.

ArrowMark Financial Dividend Announcement

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

Insider Buying and Selling

In related news, Director John Scott Emrich sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $21.28, for a total value of $53,200.00. Following the sale, the director now directly owns 6,225 shares of the company’s stock, valued at $132,468. This trade represents a 28.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont purchased a new position in shares of ArrowMark Financial during the fourth quarter valued at approximately $58,000. Catalina Capital Group LLC bought a new stake in ArrowMark Financial in the third quarter valued at $213,000. Pathway Financial Advisers LLC increased its position in ArrowMark Financial by 1,969.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock valued at $321,000 after purchasing an additional 14,768 shares during the period. Falcon Wealth Planning raised its holdings in ArrowMark Financial by 14.4% in the 3rd quarter. Falcon Wealth Planning now owns 16,362 shares of the investment management company’s stock worth $339,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in shares of ArrowMark Financial in the 4th quarter worth about $348,000. Institutional investors 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.