JMI released their monthly update yesterday.
They reduced leverage in November from 7.1 to 5.0. They bought back about 221K shares of stock.
They sold more 30 year agency MBS. Agency portfolio went from 1.144 billion down to 814 million. The left the hedges in place so they are now at 140% hedged (vs. 108% at end of Q3).
Saw them just go stupid like from .80 to .55 range higher dollar while sector was slapped around.
did arr not do the same???? with rates up could be they see jmi made some book gains wtih the pop in rates.
any info on arr - they moved in the opposite direction for sure there and about 10%
jmi cracked back down to reality there today
I sent you a message about this reik.Btw: it was not a monthly report.
One difference between ARR and JMI; the easiest to notice, is the change in share count month over month.