Ellington Credit (NYSE:EARN) Short Interest Update

Ellington Credit (NYSE:EARN) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 951,200 shares, a growth of 47.2% from the January 15th total of 646,000 shares. Based on an average trading volume of 537,800 shares, the short-interest ratio is presently 1.8 days.

Ellington Credit Price Performance

Shares of Ellington Credit stock opened at $6.53 on Friday. The firm has a market cap of $190.40 million, a P/E ratio of 5.83 and a beta of 1.85. The firm has a 50 day simple moving average of $6.61 and a 200 day simple moving average of $6.74. Ellington Credit has a fifty-two week low of $5.76 and a fifty-two week high of $7.26.

Ellington Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.71%. The ex-dividend date is Friday, February 28th. Ellington Credit’s dividend payout ratio is currently 85.71%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Institutional Trading of Ellington Credit

A number of hedge funds and other institutional investors have recently modified their holdings of EARN. First Trust Advisors LP grew its holdings in Ellington Credit by 2.2% during the 4th quarter. First Trust Advisors LP now owns 90,895 shares of the real estate investment trust’s stock worth $602,000 after acquiring an additional 1,959 shares during the period. Thrivent Financial for Lutherans grew its holdings in Ellington Credit by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 79,466 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 2,895 shares during the period. FMR LLC grew its holdings in Ellington Credit by 243.2% during the 3rd quarter. FMR LLC now owns 4,839 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 3,429 shares during the period. Quantbot Technologies LP acquired a new stake in Ellington Credit during the 4th quarter worth $30,000. Finally, Naviter Wealth LLC acquired a new stake in Ellington Credit during the 4th quarter worth $72,000. Institutional investors and hedge funds own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.