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Stock Alert: AG Mortgage Surges 56%

Shares of AG Mortgage Investment Trust Inc. (MITT) are trading more than 56 percent higher in Monday's trading at $5.63. There has been no stock-specific news that could influence the stock.

The shares have traded in a range of $1.46 to $16.70 in the past 52 weeks.

U.S. stocks are higher on Monday with traders remaining optimistic about a quick economic recovery as businesses begin to reopen following the coronavirus lockdown.

Last week, AG Mortgage had announced the sale of mortgage loan for net proceeds of about $383 million, with the loans having an approximate unpaid principal balance of $465 million. The company said it used the fund to repay its debt and associated payables secured by the loans.

UMB Bank acted as legal title trustee for LVS Title Trust XIII, the purchaser of the loans.

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