Federal National Mortgage Association (OTCMKTS:FNMA – Get Rating) hit a new 52-week low on Tuesday . The company traded as low as $0.50 and last traded at $0.50, with a volume of 4732687 shares changing hands. The stock had previously closed at $0.53.
Separately, Odeon Capital Group lowered shares of Federal National Mortgage Association from a “buy” rating to a “hold” rating in a report on Thursday, May 5th.
The stock has a 50 day simple moving average of $0.69 and a 200-day simple moving average of $0.79.
Federal National Mortgage Association provides a source of financing for mortgages in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.
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