BANX Stock Recent News

ArrowMark Financial Corp. offers investors a portfolio of floating rate exposure that has been benefiting from the rise in interest rates. The fund's distribution rate based on the regular dividend and share price puts the yield at 10.5%, which could reflect the returns going forward. The fund's share price is at a discount of ~20% to its last reported NAV, making it an attractive investment opportunity.

BANX experienced a significant drop in May, which continues to leave an opportunity for investors to buy at a deep discount as only a partial recovery took place. The fund's NAV has remained stable throughout the year, and its portfolio is exposed to floating-rate fixed-income securities. The fund's distribution yield is 10.83% after a recent raise and is fully covered by a significant margin, which should lead to a potential year-end special.

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records, pay high distributions, and offer "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.

BANX has bounced back after being sold off during the banking crisis, with its NAV increasing by 2.62% in April. ETW offers a more defensive approach with a call-writing strategy and global exposure, including Europe and Asia/Pacific. PAI is a non-leveraged fund focusing on investment-grade bonds, offering a less aggressive play with what should be a relatively limited downside.

BANX is a rather unique closed-end fund, investing heavily in regulatory capital relief securities. Given this exposure, one might be concerned about this fund due to financial exposure.

BANX is a relatively unique closed-end fund from what we typically see from a traditional CEF. They invest heavily in regulatory capital securities, with some smaller exposures to term loans, structured debt securities, and preferred securities.

ArrowMark Financial Corp (NASDAQ:BANX ) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET Company Participants Julie Muraco - Investor Relations Sanjai Bhonsle - Chairman & Chief Executive Officer Dana Staggs - President Patrick Farrell - Chief Financial Officer Conference Call Participants Operator Welcome to the ArrowMark Financial Corp. Q3 2022 Investor Conference Call. Now I would like to turn the call over to Julie Muraco, Investor Relations of ArrowMark Financial Corp. Julie Muraco Before we begin this conference call, I'd like to remind everyone that certain statements made during the call may be considered forward-looking statements, which are based on current management expectations that involve substantial risks and uncertainties.

Denver, Colorado--(Newsfile Corp. - November 7, 2022) - ArrowMark Financial Corp., (NASDAQ: BANX) ("ArrowMark Financial'' or the "Company"), today announced that Dana Staggs, President of ArrowMark Financial Corp. will be attending the Q4 Investor Summit live in NYC at the Sheraton Times Square.

DENVER, Oct. 14, 2022 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial” or the “Company”), today announced that the Company's September 30, 2022, estimated and unaudited Net Asset Value (“NAV”) was $20.74 per share. This NAV reflects the regular third quarter cash dividend of $0.39 per share, paid on September 29, 2022.

BANX is a unique closed-end fund run more like a traditional company. BANX was formerly known as StoneCastle Financial before being acquired by ArrowMark Partners and rebranded.