- We took gains on part of our largest position. We often hold large positions in AGNC preferred shares and went overweight with purchases on 8/7/2020 and 11/5/2020.
- We reduced the exposure and began picking up some other shares like TWO-E.
- The preferred shares from mortgage REITs can offer great opportunities. When prices get inefficient, we get nice opportunities.
- In this series we’re providing readers with the discounts to trailing book values throughout the sector and a few notes on the current environment.
- When we provide an index card for an individual mortgage REIT, it includes our most recent estimate on book values.
For further details see:
Taking Profits On A Perpetual Favorite