Tuesday, July 9, 9:08 AM Beaten-down American Capital Mortgage (MTGE) sees a big buy, with Pine River Capital (they run TWO Harbors) reporting the addition of nearly 4.4M shares to its previous 1M share stake. The stock's off nearly 40% since an ugly Q1 earnings report in early May (along with sister-company AGNC) was compounded by the fast rise in interest rates since. (-Seeking alpha)
Thanks reikreik, that's a big vote of confidence from PRCM. PRCM really knows the hybrid mREIT business inside and out. I too have confidence in MTGE's management, MTGE it is still my biggest position by far, followed by AGNC. I am underwater on both positions, 27% on MTGE and 17% on AGNC not adjusted for dividends.