Fannie Mae (OTC:FNMA) Stock Price Up 11.1% - Still a Buy?

Shares of Fannie Mae (OTC:FNMA - Get Free Report) rose 11.1% on Tuesday . The stock traded as high as $7.10 and last traded at $7.10. Approximately 16,707,951 shares changed hands during trading, an increase of 35% from the average daily volume of 12,334,749 shares. The stock had previously closed at $6.39.

Fannie Mae Stock Down 4.4 %

The firm has a fifty day moving average of $6.26 and a two-hundred day moving average of $5.67.

Fannie Mae Company Profile

Federal National Mortgage Association provides a source of financing for mortgages in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.