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Recent 52-Week High Exceeded in Shares of Armour Residential REIT (ARR)

By Nick Russo

Armour Residential REIT (NYSE:ARR) traded at a new 52-week high today of $27.48. This new high was reached on below average trading volume as 81,000 shares traded hands, while the average 30-day volume is approximately 514,000 shares.

In the past 52 weeks, Armour Residential REIT share prices have been bracketed by a low of $2.60 and a high of $27.48 and are now at $27.37, 953% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.8% while the 50-day MA has advanced 0.3%.

ARMOUR Residential REIT Inc. invests primarily in hybrid adjustable-rate, adjustable-rate and fixed-rate residential mortgage-backed securities issued or guaranteed by a U.S. Government-chartered entity. The Company intends to elect and qualify to be taxed as a real estate investment trust commencing with their taxable year ending December 31, 2009.

Armour Residential REIT (NYSE:ARR) is currently priced 22.1% above its average consensus analyst price target of $21.33. The stock should find initial support at its 50-day moving average (MA) of $20.95 and further support at its 200-day MA of $20.01.

SmarTrend recommended that subscribers consider buying shares of Armour Residential REIT on February 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.54. Since that recommendation, shares of Armour Residential REIT have risen 21.4%. We continue to monitor ARR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows armour residential reit

Ticker(s): ARR