Shares of ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.26 and traded as high as $17.79. ArrowMark Financial shares last traded at $17.59, with a volume of 19,728 shares traded.
ArrowMark Financial Trading Down 0.1 %
The stock has a market cap of $124.87 million, a P/E ratio of 33.19 and a beta of 0.55. The firm has a 50-day simple moving average of $17.26 and a two-hundred day simple moving average of $17.95.
Get ArrowMark Financial alerts:ArrowMark Financial Announces Dividend
The company also recently disclosed a None dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 29th will be given a dividend of $0.49 per share. This represents a yield of 11.34%. The ex-dividend date of this dividend is Wednesday, December 28th. ArrowMark Financial's payout ratio is 294.35%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of ArrowMark Financial by 10.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 143,317 shares of the investment management company's stock worth $2,474,000 after purchasing an additional 13,452 shares during the period. Bard Associates Inc. increased its position in shares of ArrowMark Financial by 4.0% in the second quarter. Bard Associates Inc. now owns 41,315 shares of the investment management company's stock worth $793,000 after purchasing an additional 1,600 shares during the period. Oxbow Advisors LLC increased its position in shares of ArrowMark Financial by 13.9% in the third quarter. Oxbow Advisors LLC now owns 38,177 shares of the investment management company's stock worth $659,000 after purchasing an additional 4,650 shares during the period. Raymond James & Associates increased its position in shares of ArrowMark Financial by 23.0% in the third quarter. Raymond James & Associates now owns 34,403 shares of the investment management company's stock worth $594,000 after purchasing an additional 6,437 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of ArrowMark Financial by 8.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,309 shares of the investment management company's stock worth $313,000 after purchasing an additional 1,316 shares during the period. Institutional investors own 24.77% of the company's stock.ArrowMark Financial Company Profile
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on ArrowMark Financial (BANX)
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