FANNIE MAE PFD S (OTCBB:FNMAS) shares surged by 10.04%, FNMAT FEDERAL NATL PFD T (OTCBB:FNMAT)

Posted by Samantha Donahue May 28, 2013 0 Comment 1430 views


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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About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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