Penny Stock Fannie Mae (FNMA) trades Lower in Friday’s Session
Shares of Fannie Mae (OTC: FNMA), a government-sponsored enterprise chartered by the U.S. Congress to support liquidity and stability in the secondary mortgage market, fell sharply in the previous trading session on Friday.
The penny stock of Fannie Mae ended the day 3.33% lower at $0.380, with volume up from daily average of 6.68 million to 13.56 million. Despite the drop on Friday, Fannie Mae shares are up 11.76% in the last three trading sessions.
Last week Fannie Mae announced that it priced its second Multifamily DUS REMIC in 2012 totaling $977 million under its Fannie Mae Guaranteed Multifamily Structures program on February 15, 2012.
Kimberley Johnson, vice president of Multifamily Capital Markets at Fannie Mae, said that this month’s GeMS deal was the program’s largest to date and several new investors participated. Increasing deal sizes and issuing with higher frequency has enhanced liquidity over the past six months, and participation has grown steadily.
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Posted by Arnulfo Saucedo
on Tuesday, February 21st, 2012. Filed under Internet, Stocks.
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