Orchid Island Capital on the move on bullish SA article

• Buy the dip in Orchid Island Capital (ORC +3.4%), writes SA Pro's Scott Kennedy in an article embargoed until tomorrow morning.
• Trading at 6% premium to book value at the end of Q1, the stock was materially overvalued, but the sharp decline over the past two months now leaves the shares at a 33% discount to book - out of line with its peers. Not only that, but ORC's structured MBS portfolio is a natural hedge to its pass-through MBS portfolio, arguing for outperformance in a rising rate environment.