PennyMac Mortgage Investment Trust (NYSE:PMT) : Traders are bullish on PennyMac Mortgage Investment Trust (NYSE:PMT) as it has outperformed the S&P 500 by a wide margin of 1.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.35% in the last 1 week, and is up 3.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have dropped -7.85% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $18.19 and the one year low was seen on Feb 4, 2016. The 50-Day Moving Average price is $15.84 and the 200 Day Moving Average price is recorded at $14.15.
The stock has recorded a 20-day Moving Average of 3.02% and the 50-Day Moving Average is 8.52%.
PennyMac Mortgage Investment Trust (NYSE:PMT): stock turned positive on Friday. Though the stock opened at $16.45, the bulls momentum made the stock top out at $16.585 level for the day. The stock recorded a low of $16.35 and closed the trading day at $16.55, in the green by 1.22%. The total traded volume for the day was 1,297,014. The stock had closed at $16.35 in the previous days trading.
In an insider trading activity, Hendry Gregory L, officer (Chief Accounting Officer) of Pennymac Mortgage Investment Trust, unloaded 525 shares at an average price of $15.71 on June 3, 2016. The total amount of the transaction was worth $8,248, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Companys operations aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing, pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS), using the services of PNMAC Capital Management and PennyMac Loan Services, LLC. The investment activities segment represents the Companys investments in mortgage-related assets, which include distressed mortgage loans, real estate acquired in settlement of loans, MBS, mortgage servicing rights and excess servicing spread.