Redwood Trust Gains 2%, CEO Bought 20,000 Shares

Shares of

(NYSE:

), a real estate investment trust company that focuses on mortgages and other real estate-related assets, rose more than 2 percent on Wednesday after the company's CEO Martin Hughes

an insider stock purchase. Hughes disclosed that he acquired 20,000 shares of his company's stock on Tuesday in 4 separate transactions at an average price of $12.0577 per share. The executive now owns 533,384 shares of his stock. Shares of Redwood Trust have lost more than 5 percent since the start of 2016 and around 35 percent over the past year.