ArrowMark Financial Corp. reported an estimated NAV of $22.02 as of October 31, 2024.
Quiver AI Summary
ArrowMark Financial Corp. announced that its estimated and unaudited Net Asset Value (NAV) as of October 31, 2024, is $22.02. This figure does not reflect a complete financial statement for the month. ArrowMark Financial is a non-diversified, closed-end fund listed on NASDAQ under the symbol "BANX," focusing on generating current income by investing mainly in regulatory capital securities of financial institutions. The fund is managed by ArrowMark Asset Management, LLC. The press release also outlines various risks associated with investing in ArrowMark Financial, including market and management risks, and notes that past performance does not guarantee future results. For more details, investors can visit the company's website or contact them directly.
Potential Positives
- Announcement of an estimated and unaudited Net Asset Value (NAV) of $22.02 as of October 31, 2024, providing a key financial metric for investors.
- Clarifies the investment focus of ArrowMark Financial on regulatory capital securities of financial institutions, highlighting its strategic area for potential growth.
- ArrowMark Financial is a publicly listed company on NASDAQ, enhancing its visibility and credibility in the financial market.
- Encourages engagement with shareholders through accessible communication channels, promoting transparency and investor relations.
Potential Negatives
- The estimated NAV of $22.02 might indicate a negative perception of the fund's performance, as this is an unaudited figure and not a comprehensive statement of financial condition.
- The disclaimer emphasizes numerous risks associated with the investment, which may deter potential investors and raise concerns about the stability and reliability of returns.
- The press release implicitly suggests that the management may not be confident in achieving the stated investment objective, highlighting uncertainty for current and prospective shareholders.
FAQ
What is the estimated NAV of ArrowMark Financial as of October 31, 2024?
The estimated NAV of ArrowMark Financial as of October 31, 2024, is $22.02.
What type of fund is ArrowMark Financial Corp.?
ArrowMark Financial Corp. is a non-diversified, closed-end fund listed on NASDAQ under the symbol "BANX."
What is the investment objective of ArrowMark Financial?
ArrowMark Financial aims to provide shareholders with current income through investments primarily in regulatory capital securities of financial institutions.
Who manages ArrowMark Financial Corp.?
ArrowMark Financial is managed by ArrowMark Asset Management, LLC.
Where can I find more information about ArrowMark Financial?
More information can be found on their website at ir.arrowmarkfinancialcorp.com or by contacting Destra at 877.855.3434.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BANX Insider Trading Activity
$BANX insiders have traded $BANX stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here's a breakdown of recent trading of $BANX stock by insiders over the last 6 months:
- PATRICK JOSEPH FARRELL (Chief Financial Officer) purchased 650 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$BANX Hedge Fund Activity
We have seen 10 institutional investors add shares of $BANX stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC. removed 47,703 shares (-19.5%) from their portfolio in Q3 2024
- ARROWMARK COLORADO HOLDINGS LLC removed 44,723 shares (-18.6%) from their portfolio in Q3 2024
- STIFEL FINANCIAL CORP removed 25,682 shares (-13.8%) from their portfolio in Q3 2024
- GREENWICH INVESTMENT MANAGEMENT, INC. removed 18,975 shares (-6.0%) from their portfolio in Q2 2024
- PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. removed 15,815 shares (-100.0%) from their portfolio in Q3 2024
- PATHWAY FINANCIAL ADVISERS, LLC added 14,768 shares (+1969.1%) to their portfolio in Q3 2024
- MAGNUS FINANCIAL GROUP LLC removed 12,372 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DENVER, Nov. 19, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ: BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of October 31, 2024, was $22.02.
This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended October 31, 2024.
About ArrowMark Financial Corp.
ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol "BANX." Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.
Disclaimer and Risk Factors:
There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.
The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC's website at
www.sec.gov
and on the BANX's website at ir.arrowmarkfinancialcorp.com.
Contact:
BANX@destracapital.com
