Chimera Investment Corporation (CIM) has been under a strong bear grip, hence the stock is down -3% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.82% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.45% in the last 1 week, and is up 3.55% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Chimera Investment Corporation (NYSE:CIM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.25 and $16.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.36. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.33, notching a gain of 0.37% for the day. The total traded volume was 1,013,990 . The stock had closed at $16.27 on the previous day.
The stock has recorded a 20-day Moving Average of 3.54% and the 50-Day Moving Average is 7.69%. Chimera Investment Corporation is up 21.3% in the last 3-month period. Year-to-Date the stock performance stands at 32.72%.
Chimera Investment Corporation is a specialty finance company. The Company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes. The Company is externally managed by Fixed Income Discount Advisory Company.