Fannie Mae (OTCMKTS:FNMA) Shares Gap Up - Time to Buy?

Key Points

• Fannie Mae's stock price saw a significant increase, opening at $10.77 after previously closing at $9.99, indicating a 13.1% rise in trading.
• The company provides financing solutions for mortgages in the U.S. through its Single-Family and Multifamily segments.
• Fannie Mae's 50-day moving average is at $9.20 and the 200-day moving average is at $8.60, suggesting a potential upward trend in stock performance.

Fannie Mae (OTCMKTS:FNMA - )'s stock price gapped up before the market opened on Monday . The stock had previously closed at $9.99, but opened at $10.77. Fannie Mae shares last traded at $10.87, with a volume of 5,366,469 shares traded.

Fannie Mae Trading Up 13.1%

The firm's 50-day moving average is $9.20 and its 200 day moving average is $8.60.

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.

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