Although WMC is my largest holding, I am just not buying much more as there is no insider buy. However, I have added a lot of MITT recently, which is supported buy insider buy. MITT features very low leverage, well below book and insider buy. It is also noticed that it contains much non-agency. But the earning power is weaker than before. Good value IMO.
Not exactly right about "no" insider buying. Big boss Gavin bought a thousand out of pocket in Oct, and recently retired CFO says he bought around 50K in Nov. Management of WMC, which is a top priority for buying any company, has been superior for WMC, making MITT a comparative poor gamble. You can how poorly market regards MITT management by how far its trading below its last reported BV.
Lots of undistributed cash to hold the divi possibily
but also - last year 12/6 they released first and - that might mean some hit down risk if they cut the divi - hopefully as mentoined above they use their cash to support the divi at least for this next quarter.
C'mon. Fear just overwhelms on MITT. With such a low leverage, their earning is still 45 cents which correspond to 11.6% yield at current price. The undistributed cash is definitely enough to hold the the 60 cents distribution for many quarters...