PennyMac Mortgage Investment Trust (PMT) : The short interest in PennyMac Mortgage Investment Trust (PMT) has increased from 1,751,280 to 1,862,575 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 659,949 shares are traded daily in the stock and only 3 days are left for the shorts to cover. The short open interest is 2.8% of the total shares in the hands of the public. The shorts in the stock have gone up by 111,295 shares, which is an increase of 6.4% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
PennyMac Mortgage Investment Trust (NYSE:PMT): The stock opened at $15.25 on Wednesday but the bulls could not build on the opening and the stock topped out at $15.26 for the day. The stock traded down to $15.06 during the day, due to lack of any buying support eventually closed down at $15.12 with a loss of -0.66% for the day. The stock had closed at $15.22 on the previous day. The total traded volume was 236,142 shares.
In a related news, The Securities and Exchange Commission has divulged that Grogin Jeffrey, officer (CALO and Secretary) of Pennymac Mortgage Investment Trust, had unloaded 12,694 shares at an average price of $16.23 in a transaction dated on July 25, 2016. The total value of the transaction was worth $206,024.
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.