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

Ellington Credit (NYSE:EARN)’s stock price crossed 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 changing hands.

Wall Street Analyst Weigh In

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

Ellington Credit Trading Down 0.2 %

The firm has a market capitalization of $190.11 million, a price-to-earnings ratio of 5.82 and a beta of 1.85. The company’s 50 day moving average is $6.57 and its 200-day moving average is $6.73.

Ellington Credit Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 14.74%. Ellington Credit’s dividend payout ratio (DPR) is currently 85.71%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in Ellington Credit by 56,104,600.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,122,094 shares of the real estate investment trust’s stock valued at $7,428,000 after acquiring an additional 1,122,092 shares during the period. Susquehanna International Group LLP raised its holdings in Ellington Credit by 570.4% in the 4th quarter. Susquehanna International Group LLP now owns 481,669 shares of the real estate investment trust’s stock valued at $3,189,000 after acquiring an additional 409,817 shares during the period. Geode Capital Management LLC raised its holdings in Ellington Credit by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 304,629 shares of the real estate investment trust’s stock valued at $2,018,000 after acquiring an additional 34,779 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Ellington Credit by 16.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 235,395 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 33,040 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Ellington Credit by 35.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 195,955 shares of the real estate investment trust’s stock valued at $1,297,000 after acquiring an additional 51,345 shares during the period. 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.