Ellington Financial +1% after Q1 results


Net income of $22.6M or $0.88 per share vs. $14.9M and $0.58 in Q4.

March 31 book value per share of $24.10 up from $23.99 after the payment of $0.77 dividend. Estimated book value per share at the end of April is $24.34. Today's closing price was $24.39.

Non-agency strategy generated gross income of $23.1M or $0.89 per share. "Certain non-agency MBS sectors may now have limited remaining upside potential, and as a result the company sold some of its non-agency holdings in the first quarter, thereby monetizing gains."

Agency strategy generated gross income of $4.1M or $0.16 per share.

CC tomorrow at 11 ET

EFC +1.1% to $24.65 in after-hours trade

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