Short Interest in Ellington Credit (NYSE:EARN) Declines By 30.2%

Ellington Credit (NYSE:EARN - Get Free Report) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 663,900 shares, a decrease of 30.2% from the January 31st total of 951,200 shares. Based on an average daily volume of 576,100 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Ellington Credit during the 4th quarter worth approximately $30,000. FMR LLC grew its position in shares of 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 buying an additional 3,429 shares during the period. State of Wyoming acquired a new stake in shares of Ellington Credit during the 4th quarter worth approximately $49,000. Naviter Wealth LLC acquired a new stake in shares of Ellington Credit during the 4th quarter worth approximately $72,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Ellington Credit during the 4th quarter worth approximately $80,000. Institutional investors own 20.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Ellington Credit Stock Down 0.7 %

Ellington Credit stock traded down $0.05 during mid-day trading on Thursday, hitting $6.38. 318,270 shares of the stock were exchanged, compared to its average volume of 660,000. Ellington Credit has a 12 month low of $6.10 and a 12 month high of $7.26. The firm's fifty day simple moving average is $6.56 and its two-hundred day simple moving average is $6.71. The stock has a market capitalization of $186.00 million, a price-to-earnings ratio of 5.69 and a beta of 1.85.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 15.06%. Ellington Credit's payout ratio is 85.71%.

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.