Stocks are down generally because fund managers are locking in their profits for the end of year. Also, specifically in the MREIT sectors, dividends have been cut.
This combined with small investors nervous over the pending dividend announcement has caused the pullback.
I predict the announcement to come after hours friday. They will confirm the dividend of $1.40/share and the dividend chasers will run the price to $30.50/share.
I would like to adjust my price prediction. $29.99 was the high and it will fall steadily, fyi, I sold at $29.95.
No one wants to hold over the holidays. I had the choice of taking $1.40/share in capital gains over the dividend, I think many others are doing the same. Also, AGNC destroyed the price momentum when they waited for the dividend announcement. Last, institutions sell at the end of the years to lock in gains.
What's up with BLK? I bought at 163, sold at 172. Now it's at 192!!!
If we are going to talk about crystal balls, then what does your say about AGNC book value. NLY reported a decrease in their book value from $15.09 to $14.60 due to the increase in LT interest rates and the need to mark down their assets. AGNC will be making their earnings report in Feb, but will there be a report accompanying their dividend announcement? I’m a bit concern about what has been going on behind the scenes for them.