Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The following table reconciles the fees incurred in accordance with the management agreement for the three and six months ended June 30, 2022 and June 30, 2021.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
ARMOUR management fees	$	8,282	$	7,709	$	16,407	$	15,138
Less management fees waived	(1,950)		(2,100)		(3,900)		(4,500)
Total management fee expense	$	6,332	$	5,609	$	12,507	$	10,638

The table below summarizes other transactions with BUCKLER for the six months ended June 30, 2022 and for the year ended December 31, 2021.

Transactions with BUCKLER	June 30, 2022		December 31, 2021
Repurchase agreements (1)	$	3,434,999	$	1,963,679
Collateral posted on repurchase agreements	$	3,605,680	$	2,036,385
U.S. Treasury Securities Purchased	$	—	$	100,000

(1)Interest on repurchase agreements was $6,462 and $7,495 and $776 and $2,164 for the three and six months ended June 30, 2022 and June 30, 2021, respectively. See also, Note 6 - Repurchase Agreements for transactions with BUCKLER.