ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell Acquires 1,150 Shares of Stock

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell bought 1,150 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $21.04 per share, with a total value of $24,196.00. Following the completion of the transaction, the chief financial officer now directly owns 7,209 shares of the company’s stock, valued at $151,677.36. This trade represents a 18.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX opened at $21.14 on Tuesday. ArrowMark Financial Corp. has a 12-month low of $17.91 and a 12-month high of $21.67. The firm has a 50 day moving average of $21.06 and a 200 day moving average of $20.80.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.51%. The ex-dividend date of this dividend is Thursday, March 20th.

Hedge Funds Weigh In On ArrowMark Financial

Large investors have recently added to or reduced their stakes in the company. Round Rock Advisors LLC purchased a new position in ArrowMark Financial during the fourth quarter valued at approximately $896,000. Oppenheimer & Co. Inc. lifted its holdings in ArrowMark Financial by 7.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company’s stock valued at $502,000 after purchasing an additional 1,655 shares in the last quarter. Noble Wealth Management PBC purchased a new position in ArrowMark Financial during the fourth quarter valued at approximately $348,000. Trust Co. of Vermont purchased a new position in ArrowMark Financial during the fourth quarter valued at approximately $58,000. Finally, Falcon Wealth Planning lifted its holdings in ArrowMark Financial by 15.3% during the fourth quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other 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.