Seeking Alpha

Chimera up big on heavy volume

  • The mortgage REIT sector (REM +1.5%) takes a breather from heading south today, but it's a low volume effort, with one exception. Chimera Investment's (CIM +3.3%) volume of 22.7M so far this session compares to an average of 6.8M. One trader observes it's the 3rd consecutive session of heavy activity for the stock.
  • Investors still await audited results for 2012 from the company.
  • Related ETFs: MORT, MORL
Comments (5)
  • Looks like CIM closed up .11 with 25M shares traded. I would say that 4X average volume with no news means that somebody knows something...
    9 Dec 2013, 04:03 PM Reply Like
  • Yep this looks like one to watch
    9 Dec 2013, 07:52 PM Reply Like
  • Leon Cooperman took a large position in Feb 2013- .. he is someone I would follow for sure.
    9 Dec 2013, 04:10 PM Reply Like
  • Annaly is going to buy them.
    9 Dec 2013, 08:33 PM Reply Like
  • I avoid stocks where management dosen't seem to know the numbers; having said that today's pop may be indicative that financials will be put in order. Isn't it ironic that after Goldman-Sachs put a "strong sell" on agency mreits that they seem to be doing nicely.

     

    Have a long position in WMC and EFC, I am expecting a special dividend from EFC.
    9 Dec 2013, 09:22 PM Reply Like
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