Las Vegas, NV -- (SBWIRE) -- 09/19/2013 -- Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac hit four months low in share prices.
The Fannie Mae "S" Series shares were quoted at $5.65 which marks 18% lowering below their 52-week high of $6.90. Freddie Mac "Z" Series were also at $5.65, a 22% off the 52-week high. Both of the issues are up about 20% over the last month, and trade at roughly 25% of face value.
The dropping in share prices suggests that investors have some faith the lawsuits brought against the government will succeed. But, common shares have essentially gone straight down since hitting 52-week highs in late May of $5.44 for Fannie Mae and $5.00 for Freddie Mac. Fannie Mae shares hit $1.03 in the trading session on Friday morning but rebounded later to $1.15 which marks a 6% gain on the day.
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