Mortgage REITs log in a good day

|By:, SA News Editor

With many financial sectors down or mixed today, mortgage REITs are clearly running well.

UBS ETRACS Monthly Pay 2x Leveraged Mortgage REIT ETN (NYSEARCA:MORL+2.1% in late trading, and VanEck Mortgage REIT Income ETF (NYSEARCA:MORT+0.6%.

That compares with the Financial Select Sector SPDR (XLF -0.9%), made up of big banks and other financial firms.

Arlington Asset Investment (AI +1.2%), Ellington Financial (EFC +1.5%), Armour Residential (ARR +1.1%), Two Harbors Investment (TWO +1%), and Invesco Mortgage Capital (IVR +1.2%) are among the leaders in the mortgage REIT sector.

Still, mortgage REITs are regaining some ground lost in September into October. For example, MORT's three-month return is -3.1%; YTD it's up 1.1%.


Subscribe for full text news in your inbox