Haven't even hit the 29.03 offering price and everyone's wringing their teeth and gnashing their hands.
As for the big blocks, those aren't being sold for much of a profit if they were entered in January and February. The institutions would buy and hold at these levels, not cut and run.
Looking at the volume of shares traded in the last week, it appears that the big institutions and hedge funds that bought in January and February, driving the price above $31, are now selling for profit. Several large blocks (>100,000 shares) have been traded in recent days --- there were three so far today.
It's difficult for us small investors to make a profit by out-guessing those big computer-driven trades.
>> hedge funds that bought in January and February, driving the price above $31, are now selling for profit>>
From Jan 25th through Feb. the PPS was the same or higher than today....Hopefully that selling is over. The big boys who bought at the spo certainly would not want to sell for a loss at this price point(you would think).
Well said Peter. well said...............
It would have also been intuitively obvious to the most casual observer that one could take last year's announcement and deduce a similar result :-)
Ah yes, Ovicp - thanks for reminding me about that.
Agreed on the shareholders meeting and certain request for more shares to be authorized. Also agreed that will result in an SPO to follow.
Only question is... when? I think it will be after the next Ex-div date, and that it is the announcement of the dividend to be paid in June that will drive the stock price up. I can't see how the announcement of an SPO will do that.
Still, eventually it WILL go up and I am sure we will all be happy about that.
MReits have SPO ed for the last two weeks. There is a lot of Mreit shares out there to absorb. Spreads are improving but so is the economy (banks). AGNC SP will climb but it may be slow. I am a hold at 2/3 long waiting to pick up some on the cheap.