PennyMac prices offering, slides 4%

|About: PennyMac Financial Services (PFSI)|By:, SA News Editor

PennyMac Financial Services (PFSI) is off another 4% to $15.90 after pricing its 5.55M share secondary at $16.50 each. The seller is Fidelity Investments Charitable Gift Fund.

The offering was first announced on Monday evening with the stock trading at $18.36.