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

ArrowMark Financial Corp. (NASDAQ:BANX) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $20.51 and traded as high as $21.17. ArrowMark Financial shares last traded at $21.01, with a volume of 51,245 shares traded.

ArrowMark Financial Stock Performance

The stock has a 50 day moving average of $20.51 and a 200 day moving average of $19.39.

ArrowMark Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.80 annualized dividend and a yield of 8.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new stake in shares of ArrowMark Financial in the first quarter valued at approximately $340,000. Pathway Financial Advisers LLC grew its holdings in ArrowMark Financial by 1,969.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 15,518 shares of the investment management company’s stock worth $321,000 after buying an additional 14,768 shares in the last quarter. Falcon Wealth Planning acquired a new stake in ArrowMark Financial in the 2nd quarter valued at approximately $264,000. Catalina Capital Group LLC bought a new stake in ArrowMark Financial during the 3rd quarter valued at $213,000. Finally, Capital Investment Advisors LLC raised its stake in ArrowMark Financial by 4.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 35,746 shares of the investment management company’s stock valued at $740,000 after acquiring an additional 1,496 shares in the last quarter. 24.93% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Company Profile

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.