ArrowMark Financial (NASDAQ:BANX) Shares Cross Below 200 Day Moving Average – Here’s Why
by Michael Walen · The Markets DailyArrowMark Financial Corp. (NASDAQ:BANX – Get Free Report)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.39 and traded as low as $20.79. ArrowMark Financial shares last traded at $20.89, with a volume of 42,507 shares changing hands.
ArrowMark Financial Trading Down 1.4%
The stock’s fifty day simple moving average is $21.78 and its 200 day simple moving average is $21.40.
ArrowMark Financial Announces Dividend
The business also recently announced a special dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a dividend yield of 840.0%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in BANX. Raymond James Financial Inc. raised its stake in shares of ArrowMark Financial by 0.8% in the 3rd quarter. Raymond James Financial Inc. now owns 179,070 shares of the investment management company’s stock worth $3,925,000 after buying an additional 1,414 shares in the last quarter. Noble Wealth Management PBC increased its stake in shares of ArrowMark Financial by 3.9% in the fourth quarter. Noble Wealth Management PBC now owns 80,711 shares of the investment management company’s stock worth $1,761,000 after acquiring an additional 3,032 shares during the last quarter. Osaic Holdings Inc. lifted its stake in ArrowMark Financial by 26.5% in the second quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock valued at $476,000 after acquiring an additional 4,762 shares during the last quarter. Catalina Capital Group LLC increased its holdings in shares of ArrowMark Financial by 51.9% during the 2nd quarter. Catalina Capital Group LLC now owns 15,678 shares of the investment management company’s stock valued at $328,000 after acquiring an additional 5,354 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in ArrowMark Financial by 39.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock worth $489,000 after acquiring an additional 6,284 shares during the period. Hedge funds and other institutional investors own 24.93% of the company’s stock.
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.