Fannie Mae (OTCMKTS:FNMA) Shares Down 6% - Here's What Happened

Key Points

• Fannie Mae's shares fell by 6% during mid-day trading, closing at $10.80, significantly down from the previous close of $11.49.
• Trading volume dropped to approximately 997,573 shares, marking a 91% decrease from the average daily volume of 11,317,564 shares.
• The company's fifty-day moving average stands at $9.23, indicating a potential trend reversal as it remains above the 200-day moving average of $8.63.

Fannie Mae (OTCMKTS:FNMA - Get Free Report)'s stock price was down 6% during mid-day trading on Tuesday . The stock traded as low as $10.80 and last traded at $10.80. Approximately 997,573 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 11,317,564 shares. The stock had previously closed at $11.49.

Fannie Mae Stock Performance

The firm's 50-day simple moving average is $9.33 and its 200-day simple moving average is $8.77.

About Fannie Mae

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It 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.