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

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

Wall Street Analyst Weigh In

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

Ellington Credit Stock Performance

The firm has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $6.73. The firm has a market capitalization of $190.09 million, a P/E 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. Shareholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 14.74%. The ex-dividend date is Friday, February 28th. Ellington Credit’s dividend payout ratio (DPR) is presently 85.71%.

Institutional Investors Weigh In On Ellington Credit

Several large investors have recently made changes to their positions in EARN. Quantbot Technologies LP purchased a new stake in shares of Ellington Credit during the 4th quarter valued at $30,000. FMR LLC increased 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 valued at $34,000 after purchasing an additional 3,429 shares during the last quarter. State of Wyoming purchased a new stake in shares of Ellington Credit during the 4th quarter valued at $49,000. Naviter Wealth LLC purchased a new stake in shares of Ellington Credit during the 4th quarter valued at $72,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Ellington Credit during the 4th quarter valued at $80,000. 20.40% of the stock is owned by hedge funds and other 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.