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Ellington Financial (EFC): Q3 EPS of $1.59 beats by $0.71. Book value/share of $23.88, +1.7% Q/Q...

Ellington Financial (EFC): Q3 EPS of $1.59 beats by $0.71. Book value/share of $23.88, +1.7% Q/Q (current price $21.82). Smart players: The big beat looks to be a result of the company rolling into lower-quality non-Agency MBS in 2011 - a move paying off as housing improves and the Fed's agency MBS purchases drive buyers into the non-Agency area. Shares +1.6%. (PR)
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