Insiders bought $6 million worth of Annaly Capital Management Inc (NYSE:NLY) stock.
And that’s without counting an additional $11 million that was also bought last week.
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Annaly Capital is a mortgage real estate investment trust (REIT)…
Which means it borrows money at lower short-term lending rates and uses this to buy mortgage-backed securities (MBSs) that have higher long-term yields.
It is currently paying a 10.2% yield…
And it will report earnings on Wednesday October 27.
Not sure if there will be a big surprise or announcement – but insiders are loading up on the stock.
$3 million on Tuesday last week. $7 million on Friday. $1 million last Monday. And $6 million yesterday.
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