ArrowMark Financial (NASDAQ:BANX) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Shares of ArrowMark Financial Corp. (NASDAQ:BANX) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $20.82 and traded as high as $21.12. ArrowMark Financial shares last traded at $20.94, with a volume of 5,015 shares traded.

ArrowMark Financial Stock Performance

The company has a 50 day moving average price of $20.82 and a two-hundred day moving average price of $20.17.

ArrowMark Financial Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 8.60%. The ex-dividend date was Thursday, December 26th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BANX. Capital Investment Advisors LLC raised its stake in shares of 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 worth $740,000 after buying an additional 1,496 shares during the period. Pathway Financial Advisers LLC raised its stake 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 valued at $321,000 after purchasing an additional 14,768 shares during the last quarter. Falcon Wealth Planning raised its stake 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 valued at $339,000 after purchasing an additional 2,054 shares during the last quarter. Catalina Capital Group LLC acquired a new position in ArrowMark Financial in the 3rd quarter valued at $213,000. Finally, Oppenheimer & Co. Inc. raised its stake in ArrowMark Financial by 15.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,274 shares of the investment management company’s stock valued at $461,000 after purchasing an additional 2,900 shares during the last quarter. 24.93% of the stock is owned by institutional investors and hedge funds.

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.