Ellington Financial Enters Oversold Territory with a Dividend Yield of 13.28%

Ellington Financial Inc (EFC) has a strong dividend rank and entered oversold territory with a Relative Strength Index (RSI) reading of 28.2, compared to the average RSI of 38.9 in the dividend stock universe. The recent annualized dividend of 1.56/share works out to an annual yield of 13.28% based on the recent $11.75 share price. A bullish investor could see this as a sign of exhaustion in the recent heavy selling and look for entry points on the buy side.