Investors take profits in Orchid Island Capital after Q2 results

|About: Orchid Island Capital (ORC)|By:, SA News Editor

Q2 net income of $10.6M included net interest income of $5.9M, net gains of $5.8M, and some small charges. $279.5M of MBS were sold during quarter resulting in net gain of $3M; the remainder of the gains were fair value adjustments.

Book value per share of $13.05 up from $12.47 at the end of Q1. The current price of $13.24 is a slight premium to book - pricey in the MBS sector at the moment.

Previously: Orchid Island Capital EPS of $1.17

Today's 3.6% decline in ORC comes after a 15% run higher since the end of Q1.