Capital Investment Advisors LLC Raises Holdings in ArrowMark Financial Corp. (NASDAQ:BANX)

Capital Investment Advisors LLC increased its holdings in ArrowMark Financial Corp. (NASDAQ:BANX) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,746 shares of the investment management company’s stock after buying an additional 1,496 shares during the period. Capital Investment Advisors LLC’s holdings in ArrowMark Financial were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Oppenheimer & Co. Inc. bought a new position in shares of ArrowMark Financial in the 1st quarter worth $340,000. 24.93% of the stock is owned by institutional investors and hedge funds.

ArrowMark Financial Stock Down 0.5 %

Shares of BANX stock opened at $20.48 on Monday. The stock’s 50-day moving average is $20.33 and its 200 day moving average is $19.22. ArrowMark Financial Corp. has a 1-year low of $16.28 and a 1-year high of $21.67.

ArrowMark Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date was Thursday, September 26th.

ArrowMark Financial 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.