Trading in Ellie Mae Stock at Normal Levels

Trading in Ellie Mae’s stock returned to more normal levels and the company closed 0.07% higher on Wednesday. On Tuesday, the stock zoomed on rumors that a sale was near.

Redwood Trust had the largest percentage increase among the 14 Mortgage Industry Equity Composite stocks which closed higher on Wednesday. Meanwhile, the Dow Jones Industrial Average gained 71 points and set a new record.

Redwood closed 4.11% higher, followed by KB Home, up 2.32%, and Bank of America up 2.23%.

The three losers were OceanFirst Financial, down 0.67%, PHH, down 0.66%, and Radian Group, down 0.31%.

Meanwhile, published reports have hedge funds interested in purchasing Fannie Mae and Freddie Mac. At the same time, both should turn profits for several years, a report from Moody’s says. The companies were up 9.17% and 8.44% respectively.