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Freddie Mac and Fannie Mae rising fast

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Share prices of both Freddie Mac (FRE) and Fannie Mae (FNM), both which are in government conservatorship, have more than doubled since Aug. 3.

Since last Monday, share prices of FRE have gone to $1.84 from 61 cents per share, and FNM prices have risen to $1.25 from 58 cents.

Both stocks were rising fast again during early trading Tuesday, with FRE up 9 percent and FNM up 25 percent.

Monday saw the FRE’s share price more than double from its Friday close at 74 cents to its Monday close at $1.69. More than 380 million shares were traded Monday, which was the heaviest trading volume for Freddie Mac in almost a year, the Washington Business Journal reported.

FRE reported a $768 million quarterly profit last Friday, and according to the Washington Business Journal it will not need additional funding from the Treasury Department. FNM reported its eighth straight loss and requested $10.7 billion more from the Treasury.