Increase in Book Value
ARMOUR's quarter-end book value was $17.49 per common share, up 3.5% from June 30, and up 2.8% from August 8.
Strong Economic Return
The total economic return for the quarter was 7.75%, reflecting positive market conditions and effective portfolio management.
Capital Raised and Share Repurchase
ARMOUR raised approximately $99.5 million by issuing 6 million shares and completed a $300 million overnight underwritten bought deal in August.
Positive Impact from Fed's Rate Cuts
The Federal Reserve's easing cycle, including a 25 basis point cut, is expected to create a favorable environment for Agency MBS.