BlackRock Inc., the investment firm headed by MBS veteran Larry Fink, recently increased its position in PennyMac Mortgage Investment Trust to 5.48%, more than double its last recorded stake.
Processing Content
In an SEC filing BlackRock Inc. said it owned just over 1.5 million shares in the Calabasas-based PennyMac.
Previously, a BlackRock affiliate called BlackRock Fund Advisors laid claim to 697,609 shares of the REIT, or 2.5% of the company.
PennyMac was launched three years ago to buy troubled mortgage assets but has since branched out into correspondent lending, servicing, and warehouse finance.
