5 Best High-Yield Monthly Dividend Stocks to Buy

2. Ellington Financial Inc. (NYSE: EFC)

Number of Hedge Fund Holders: 6
Dividend Yield: 10.10%

Ellington Financial Inc. (NYSE: EFC) operates in the acquisition of financial assets in the US through Ellington Financial Operating Partnership LLC. It ranks 2nd on our list of the best high-yield monthly dividend stocks to buy.

BTIG has a Buy rating on Ellington Financial Inc. (NYSE: EFC) alongside a $19 price target as of this May, with analyst Eric Hagen seeming optimistic on the stock.

In the first quarter of 2021, Ellington Financial Inc. (NYSE: EFC) had an FFO of $0.43, higher than the previous quarter’s FFO of $0.37, while its revenue was $40.08 million, also surpassing the previous quarter’s $39.07 million revenue. Ellington Financial Inc. (NYSE: EFC) has also gained 15.7% in the past 6 months and 22.12% year to date.

By the end of the first quarter of 2021, 6 hedge funds out of the 866 tracked by Insider Monkey held stakes in Ellington Financial Inc. (NYSE: EFC) worth roughly $38.6 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $40.4 million.