DENVER, June 18, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of May 31, 2024, was $21.76. This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended May 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 " ...

DENVER, June 14, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp. (NASDAQ:BANX) ("ArrowMark Financial" or the "Company"), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a cash distribution of $0.45 per share for the second quarter 2024. The total distribution of $0.45 per share will be payable on June 28, 2024 to shareholders of record on June 24, 2024. "We are very pleased to announce the net income for Q1 2024 was $0.70 per share, wel ...

DENVER, May 13, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of April 30, 2024, was $21.49. This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended April 30, 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 symbo ...

Olivier Le Moal In this monthly article, we try to identify five closed-end funds ("CEFs") that have a solid historical performance, pay high enough distributions, and offer reasonable valuations at the current time. We also present a more diversified list of the top 10 funds. Author's Note: This article is part of our monthly series that tries to discover the five best buys in the CEF arena at that point. Certain parts of the introduction, definitions, and sections describing selection criteria/process ...

DENVER, April 15, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of March 28, 2024, was $21.24. This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended March 28, 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 sym ...

DENVER, March 18, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of February 29, 2024, was $21.50. This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended February 29, 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 t ...

DENVER, March 06, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp. (NASDAQ:BANX) ("ArrowMark Financial" or the "Company"), an SEC registered closed-end management investment company, today announced that its Board of Directors has declared a cash distribution of $0.45 per share for the first quarter 2024. The total distribution of $0.45 per share will be payable on March 28, 2024 to shareholders of record on March 21, 2024. "We are very pleased to announce the net income for Q4 2023 was $0.67 per share, w ...

Olivier Le Moal In this monthly article, we try to identify five closed-end funds ("CEFs") that have a solid historical performance, pay high enough distributions, and offer reasonable valuations at the current time. We also present a more diversified list of the top 10 funds. Author's Note: This article is part of our monthly series that tries to discover the five best buys in the CEF arena at that point in time. Certain parts of the introduction, definitions, and sections describing selection criteria ...

pixeldigits Looking for a niche high-yield investment in the financial sector? ArrowMark Financial Corp. (NASDAQ:BANX) has been one of our core holdings since the inception of our portfolio, when it was known as StoneCastle Financial Corp. It's a closed-end fund covering two unique niches - US community banks and regulatory capital securities. Community banks have long been considered the safest sub-sector of the US banking system, but a niche which isn't readily available to retail investors, other than so ...

Core Viewpoint - Closed-end funds (CEFs) can provide attractive income opportunities, particularly through leverage and distributions that may exceed net investment income, with a focus on two specific funds: ArrowMark Financial Corp (BANX) and New America High Income Fund (HYB) [2][12] ArrowMark Financial Corp (BANX) - BANX has a 1-Year Z-score of 0.59 and is trading at a discount of -15.54% based on the estimated NAV of $21.76 as of November 30, 2023 [3][7] - The fund has a distribution yield of 9.70%, an expense ratio of 4.16%, and utilizes leverage of 24.40% with managed assets totaling $200.4 million [3] - The investment objective is to provide current income primarily through regulatory capital securities of financial institutions, with nearly 87% of the portfolio in these securities as of September 30, 2023 [4] - The fund reported a net income of $0.72 per share for Q3 2023, providing a distribution coverage of 160% against a regular distribution of $0.45 [5] - The net investment income (NII) for the latest semi-annual report was $1.95, significantly exceeding the previous year's NII of $1.84 [5] - The fund's NAV has remained stable, and despite a narrowing discount, it is still considered attractive historically [7] New America High Income Fund (HYB) - HYB has a 1-Year Z-score of 0.94 and is trading at a discount of -13.41% based on the NAV of $8.16 [8][10] - The fund has a distribution yield of 6.73%, an expense ratio of 1.40%, and utilizes leverage of 33.27% with managed assets of $268.66 million [8] - The investment objective is to provide high current income while preserving capital, primarily through high-yield fixed-income securities rated "BB" or lower [8] - The fund has a diversified portfolio with 452 holdings, where the largest holding constitutes only 1.31% of the portfolio [9] - The fund's NII for the last six months was $0.25, covering total distributions of $0.20, indicating that the latest distribution is fully covered based on earnings [10][11] - With rising borrowing costs impacting NII, the fund is expected to benefit from future rate cuts, easing pressure on its portfolio [11] Conclusion - Both BANX and HYB provide regular income supported by their underlying portfolios, with BANX benefiting from a higher rate environment while HYB faced challenges [12] - Future rate cuts are anticipated to positively impact HYB, while BANX has a significant cushion to maintain its distribution despite potential rate reductions [12] - Both funds are trading at attractive discounts, making them suitable candidates for income-focused investors [12]