David Spector, Chairman & CEO, has demonstrated a clear selling bias in recent months, with all seven of his latest transactions involving disposals. His trading activity has centered on two companies: PennyMac Mortgage Investment Trust (PMT) and PennyMac Financial Services (PFSI). While Spector has executed 62 total transactions across these firms, recent filings show a pronounced shift toward divestment. Between February 19 and March 12, 2026, he sold PFSI shares six times, with transactions ranging from $50,587 to $882,348, including a cluster of five sales on March 6 totaling over $1.8 million. His only PMT transaction in this period was a $62,481 purchase on March 12, though earlier in February he acquired PMT shares four times in amounts between $67,017 and $95,481.
Historically, Spector’s activity reflects a net selling position, with total sales exceeding $19.2 million against $9.2 million in buys. The recent disposals—particularly the concentrated PFSI sales—suggest a reduction in exposure to PennyMac Financial Services, though he maintains holdings in both firms. The February 20 acquisition of $697,193 in PFSI shares, followed weeks later by multiple sales, indicates potential portfolio rebalancing. With no buys in his last seven trades, the current trend leans decisively toward liquidation, though the retained PMT purchases hint at selective retention of mortgage-related investments.
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