New York Mortgage Trust (NASDAQ:NYMTL) Trading Down 1.4% – Should You Sell?

Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMTL) were down 1.4% on Wednesday . The stock traded as low as $22.13 and last traded at $22.33. Approximately 72,487 shares changed hands during mid-day trading, an increase of 512% from the average daily volume of 11,846 shares. The stock had previously closed at $22.64.

New York Mortgage Trust Stock Performance

The business has a 50-day moving average price of $22.50 and a 200-day moving average price of $21.39.

New York Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be issued a dividend of $0.4297 per share. This represents a $1.72 annualized dividend and a yield of 7.70%. The ex-dividend date of this dividend is Tuesday, December 31st.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.