AGNC Investment Trust Yields Over 13% as Institutional Holdings Shift

AGNC Investment Corp., a mortgage real‑estate investment trust that holds agency‑backed mortgage‑backed securities, is trading with a dividend yield of more than 13%. The trust’s net spread and leverage remain stable, and its tangible‑book value rose modestly in the latest quarter, supporting its dividend payouts.

In the first quarter, Allspring Global Investments reduced its stake in AGNC by about 90%, selling roughly 3.44 million shares. Meanwhile, several other institutions increased their positions: AQR Capital Management added 51.9%, NewEdge Advisors 38.4%, UBS Asset Management’s U.S. unit 16%, HSBC Holdings 57.8% and Invesco 8.9%. Institutional investors now own roughly 38% of the outstanding shares.

Analysts note that AGNC’s performance is closely tied to interest‑rate expectations and mortgage‑spread volatility. While the trust continues to generate sufficient income to cover its high dividend, future upside may be limited unless spreads narrow further.