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Shares of New York Mortgage Trust Down on Above Average Volume, Moving Against Trend (NYMT)

By James Quinn

New York Mortgage Trust shares are trading on heavy volume today, having fallen 2.3% to $6.29. About 991,000 shares have been traded today, as compared to the 30-day average volume of 629,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that subscribers consider buying shares of New York Mortgage Trust on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.94. Since that recommendation, shares of New York Mortgage Trust have risen 30.4%. We continue to monitor NYMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of New York Mortgage Trust have traded between a low of $3.82 and a high of $8.05 and are now at $6.35, which is 66% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.9%.

Keywords: unusual volume new york mortgage trust

Ticker(s): NYMT