Short Interest in Ellington Credit (NYSE:EARN) Expands By 21.9%

Ellington Credit (NYSE:EARN) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 413,200 shares, a growth of 21.9% from the August 15th total of 339,100 shares. Based on an average daily volume of 382,800 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On Ellington Credit

Large investors have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in shares of Ellington Credit during the 4th quarter valued at $171,000. Virtu Financial LLC purchased a new stake in shares of Ellington Credit during the fourth quarter valued at $217,000. Quadrature Capital Ltd raised its stake in Ellington Credit by 18.1% in the 4th quarter. Quadrature Capital Ltd now owns 34,843 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 5,337 shares during the last quarter. Inspire Advisors LLC lifted its position in Ellington Credit by 18.1% during the 1st quarter. Inspire Advisors LLC now owns 12,426 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 1,903 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Ellington Credit by 78.5% in the second quarter. Renaissance Technologies LLC now owns 642,419 shares of the real estate investment trust’s stock valued at $4,465,000 after purchasing an additional 282,600 shares during the period. 20.40% of the stock is currently owned by institutional investors.

Ellington Credit Stock Down 0.2 %

Shares of NYSE EARN opened at $6.97 on Tuesday. Ellington Credit has a twelve month low of $5.09 and a twelve month high of $7.26. The firm has a market cap of $142.61 million, a PE ratio of 24.02 and a beta of 1.87. The business has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $6.87.

Ellington Credit (NYSE:EARN) last posted its earnings results on Monday, August 12th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The business had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $6.35 million. During the same period last year, the business posted $0.17 EPS. On average, research analysts expect that Ellington Credit will post 1.16 earnings per share for the current year.

Ellington Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 13.78%. The ex-dividend date is Monday, September 30th. Ellington Credit’s payout ratio is currently 331.03%.

About Ellington Credit

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.