Short Interest in Ellington Credit Company (NYSE:EARN) Rises By 50.8%

Ellington Credit Company (NYSE:EARN) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 546,100 shares, an increase of 50.8% from the January 29th total of 362,079 shares. Based on an average daily trading volume, of 442,007 shares, the short-interest ratio is currently 1.2 days. Approximately 1.5% of the company’s stock are sold short. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 442,007 shares, the short-interest ratio is currently 1.2 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on EARN shares. UBS Group set a $6.00 target price on shares of Ellington Credit in a research report on Tuesday, December 23rd. Wall Street Zen raised Ellington Credit from a “sell” rating to a “hold” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Ellington Credit Stock Performance

Shares of EARN stock opened at $4.97 on Tuesday. Ellington Credit has a 52-week low of $4.32 and a 52-week high of $6.49. The company has a 50-day simple moving average of $5.33 and a two-hundred day simple moving average of $5.38. The company has a market capitalization of $186.49 million, a price-to-earnings ratio of 62.07 and a beta of 1.29.

Ellington Credit Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 19.3%. The ex-dividend date of this dividend is Friday, February 27th. Ellington Credit’s dividend payout ratio (DPR) is presently 1,200.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Ellington Credit by 485.8% during the 1st quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock valued at $5,044,000 after buying an additional 773,169 shares in the last quarter. Delphi Financial Group Inc. raised its holdings in Ellington Credit by 230.8% during the 2nd quarter. Delphi Financial Group Inc. now owns 608,700 shares of the real estate investment trust’s stock valued at $3,500,000 after acquiring an additional 424,700 shares during the period. Jane Street Group LLC raised its holdings in Ellington Credit by 415.4% during the 1st quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock valued at $2,055,000 after acquiring an additional 306,192 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Ellington Credit during the fourth quarter worth $369,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Ellington Credit by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock worth $686,000 after acquiring an additional 45,845 shares during the period. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.