Redwood Trust Top MIEC Gainer on Friday
Of the 17 stocks comprising the Mortgage Industry Equity Composite, 12 were winners, four were losers and one was unchanged when trading closed on Friday afternoon.
The two private mortgage insurers in the index turned around their morning woes, as Radian ended up 1.25% and MGIC was unchanged. The two biggest gainers on the day were Redwood Trust, up 2.39%, and residential and multifamily mortgage lender Astoria Financial, up 2.11%.
At the other end of the spectrum was technology provider Ellie Mae, down 3.25%. Next was PennyMac, down 1.45%; OceanFirst Financial, down 1.38%; and Dime Community, down 0.21%.
The Dow Jones Industrial Average was up 43.85 or 0.33% for the day.