BlackRock, the investment firm headed by MBS veteran Larry Fink, recently increased its position in PennyMac Mortgage Investment Trust to 5.48%, more than double its last recorded stake.

In an Securities and Exchange Commission (SEC) filing,  BlackRock said it owned just over 1.5 million shares in the Calabasas-based PennyMac.

Previously, a BlackRock affiliate called BlackRock Fund Advisors laid claim to 697,609 shares of the REIT, or 2.5% of the company.

PennyMac was launched three years ago to buy troubled mortgage assets but has since branched out into correspondent lending, servicing, and warehouse finance.

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