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Shares of Capstead Mortgag Has Fallen Below Previous 52-Week Low

By David Diaz

Capstead Mortgag (NYSE:CMO) traded today at a new 52-week low of $7.45. Approximately 79,000 shares have changed hands today, as compared to an average 30-day volume of 520,000 shares.

Capstead Mortgage Corporation is a real estate investment trust and earns income from investing in real-estate related assets on a leveraged basis. The Company's investments currently consist primarily of residential ARM securities issued and guaranteed by government-sponsored entities.

Potential upside of 27.0% exists for Capstead Mortgag, based on a current level of $7.48 and analysts' average consensus price target of $9.50. The stock should run into initial resistance at its 50-day moving average (MA) of $8.17 and subsequent resistance at its 200-day MA of $8.64.

Capstead Mortgag share prices have moved between a 52-week high of $9.75 and the current low of $7.45 and are currently at $7.48 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

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

Keywords: 52 week high/lows capstead mortgag

Ticker(s): CMO