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Pennymac Mortgag: The Winning Streak Continues (PMT)

By David Diaz

Shares of Pennymac Mortgag (NYSE:PMT) traded today at $21.60, breaking its 52-week high. Approximately 57,000 shares have changed hands today, as compared to an average 30-day volume of 515,000 shares.

Pennymac Mortgag (NYSE:PMT) is currently priced 17.4% above its average consensus analyst price target of $17.85. The stock should find initial support at its 50-day moving average (MA) of $20.61 and further support at its 200-day MA of $19.95.

In the past 52 weeks, shares of Pennymac Mortgag have traded between a low of $16.97 and a high of $21.60 and are now at $21.60, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

PennyMac Mortgage Investment Trust operates as a specialty finance company. The Trust provides risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. PennyMac Mortgage Investment serves customers in the State of California.

SmarTrend is tracking the current trend status for Pennymac Mortgag and will alert subscribers who have PMT in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows pennymac mortgag

Ticker(s): PMT