Ellington Credit (NYSE:EARN) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Ellington Credit (NYSE:EARN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.73 and traded as low as $6.51. Ellington Credit shares last traded at $6.52, with a volume of 764,046 shares traded.

Analyst Upgrades and Downgrades

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

Ellington Credit Stock Down 0.2 %

The company’s fifty day moving average price is $6.57 and its 200 day moving average price is $6.73. The company has a market capitalization of $190.11 million, a P/E ratio of 5.82 and a beta of 1.85.

Ellington Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 14.74%. Ellington Credit’s dividend payout ratio (DPR) is 85.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in Ellington Credit in the fourth quarter valued at approximately $99,000. McIlrath & Eck LLC bought a new position in Ellington Credit in the fourth quarter valued at approximately $80,000. Vident Advisory LLC bought a new position in Ellington Credit in the fourth quarter valued at approximately $90,000. State of Wyoming bought a new position in Ellington Credit in the fourth quarter valued at approximately $49,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Ellington Credit in the fourth quarter valued at approximately $605,000. 20.40% of the stock is owned by institutional investors.

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.