FANNIE MAE PFD S (OTCBB:FNMAS) shares surged by 10.04%, FNMAT FEDERAL NATL PFD T (OTCBB:FNMAT)
Hartford, CT 05/28/2013 (GDPInsider) – In Friday’s trading session, FANNIE MAE PFD S (OTCBB:FNMAS) rose by 10.04%. Its opening price of $5.70 rose to touch an intraday high of $6.69 which eventually headed down to close at $5.65 per share. More than 5.76 million shares exchanged hands in the last trading session. This number stood below the average volume of 5.81 million that was measured over a 30-day period.
Federal National Mortgage Association Fannie Mae is a government-sponsored enterprise that is chartered by the U.S Congress. It supports liquidity as well as stability in the U.S secondary-mortgage market. This is where mortgage-related assets are bought and sold. FNMAS provides market liquidity. It does this by securitizing the mortgage loans that have been come from numerous lenders in the primary-mortgage market into Fannie Mae mortgage-backed securities. The company also purchases mortgage loans as well as mortgage-related securities in the secondary-market for its mortgage-based portfolio.
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In Friday’s trading session, FNMAT FEDERAL NATL PFD T (OTCBB:FNMAT) rose by 8.70%. Its opening price of $6.97 rose to touch an intraday high of $8.47 which eventually headed down to close at $6.97 per share. More than 0.601 million shares exchanged hands in the last trading session. This number stood above the average volume of 0.368 million that was measured over a 30-day period.
FEDERAL NATL PFD T (OTCBB:FNMAT) overall performance over the past five days stayed at +23.56%. This stands at 47.35% for the month. Going back a little beyond one month, FEDERAL NATL PFD T (OTCBB:FNMAT)’s 1-year performance after the recent close was +476.92%. Federal National Mortgage Association (Fannie Mae) provides liquidity and stability-support services for the secondary mortgage market in the United States. The company securitizes the mortgage loans originated by different lenders in the primary mortgage market into its mortgage-backed securities.
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