Ellington Credit (NYSE:EARN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Ellington Credit (NYSE:EARN)’s share 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.

Analyst Ratings Changes

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

Ellington Credit Stock Down 0.2 %

The company has a 50 day moving average price of $6.57 and a 200-day moving average price of $6.73. The company has a market cap of $190.09 million, a price-to-earnings ratio of 5.82 and a beta of 1.85.

Ellington Credit Dividend Announcement

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

Institutional Trading of Ellington Credit

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in shares of 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 worth $7,428,000 after purchasing an additional 1,122,092 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in shares of 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 worth $3,189,000 after purchasing an additional 409,817 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Ellington Credit in the 3rd quarter worth $1,412,000. Bank of New York Mellon Corp bought a new position in shares of Ellington Credit in the 4th quarter worth $955,000. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Ellington Credit in the 4th quarter worth $744,000. 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.