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Ellington Financial LLC Stock Getting Overbought

By Dividend Channel Staff, Friday, January 6, 3:59 PM ET
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In trading on Friday, shares of Ellington Financial LLC (NYSE:EFC) entered into overbought territory, changing hands as high as $18.15 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.

In the case of Ellington Financial LLC, the RSI reading has hit 74.2 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.6.

Investors could look at EFC's 74.2 reading as a sign that the recent heavy buying is in the process of winding down, which could bring a pullback in the stock. The chart below shows the one year performance of EFC shares:

Ellington Financial LLC 1 Year Performance Chart

Looking at the chart above, EFC's low point in its 52 week range is $15.76 per share, with $25.09 as the 52 week high point that compares with a last trade of $18.09.

Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on EFC is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

EFC Dividend History
Date Div*
11/29/11 0.400
08/30/11 0.400
05/27/11 0.400
02/25/11 1.310
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

EFC operates in the Real Estate sector, among companies like American Realty Capital Properties Inc (ARCP) which is up about 0.4% today, and Avatar Holdings Inc. (AVTR) trading lower by about 1.2%. Below is a three month price history chart comparing the stock performance of EFC, versus ARCP and AVTR.

EFC,ARCP,AVTR Relative Performance Chart

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