Shares of United Development Funding IV (OTCMKTS:UDFI) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.16 and traded as low as $4.20. United Development Funding IV shares last traded at $4.29, with a volume of 12,516 shares.
Separately, ValuEngine lowered shares of United Development Funding IV from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th.
The business’s 50 day moving average price is $4.16 and its 200 day moving average price is $4.32.
United Development Funding IV invests in secured loans for the acquisition and development of land into single-family home lots, and the construction of model and new single-family homes. It also makes equity investments in residential real estate. The company has elected to be taxed as a real estate investment trust.
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