Are Chimera’s Top Shareholders Selling Now and Asking Questions Later?

In 2012, Chimera Investment Corporation (NYSE:CIM) shares are up 1.2 percent. On Thursday, the company’s shares fell after Credit Suisse analyst Douglas Harter downgraded its stock to “Neutral” from “Outperform” following Tuesday’s news to pay a lower-than-expected dividend of $0.09 vs. $0.11 from the prior quarter. The company also said it had an estimated economic book value of $2.76 a share as of March 31; Harter had expected a $2.89 estimate from the company, reported Bloomberg.

In addition, he also wrote that Chimera didn’t given an update on when it will issue an accounting restatement.

With the downgrade and dividend news, will Chimera’s largest investors decrease their holdings? 289 institutional firms indicated owning shares of Chimera Investment Corporation (NYSE:CIM) in Q1 2012. These firms reported owning a total of 385.375 million shares on 03/31/2012. The shares closed at $2.83 on 03/31/2012.

Here are the ten largest positions in Chimera Investment Corporation at the end of March 31st, 2012.

Thornburg Investment Management Inc held 45,744,900 shares on 03/31/2012 worth $129,458,064. This brought the portfolio total to 0.59%.

Vanguard Group Inc held 33,778,869 shares on 03/31/2012 worth $95,594,197. This brought the portfolio total to 0.01%.

Herndon Capital Management held 30,713,155 shares on 03/31/2012 worth $86,918,226. This brought the portfolio total to 1.8%.

Blackrock Institutional Trust Company N.A. held 24,834,672 shares on 03/31/2012 worth $70,282,120. This brought the portfolio total to 0.02%.

Blackrock Fund Advisors held 20,855,310 shares on 03/31/2012 worth $59,020,526. This brought the portfolio total to 0.03%.

Bank of America Corp /DE/ held 17,579,974 shares on 03/31/2012 worth $49,751,325. This brought the portfolio total to 0.03%.

Brandywine Global Investment Management LLC held 16,166,134 shares on 03/31/2012 worth $45,750,158. This brought the portfolio total to 0.48%.

State Street Corp held 12,782,808 shares on 03/31/2012 worth $36,175,346. This brought the portfolio total to 0.01%.

Tiaa Cref Investment Management LLC held 9,647,605 shares on 03/31/2012 worth $27,302,721. This brought the portfolio total to 0.02%.

Putnam Investment Management LLC held 8,853,388 shares on 03/31/2012 worth $25,055,087. This brought the portfolio total to 0.06%.

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