5 High Yield Monthly Dividend Stocks to Buy in August

4. Ellington Financial Inc. (NYSE: EFC)

Number of Hedge Fund Holders: 6
Dividend Yield: 9%

Ellington Financial Inc. (NYSE: EFC) works with the acquisition and management of mortgage-related, consumer-related, corporate-related, and other financial assets primarily within America. The company ranks 4th on our list of high yield monthly dividend stocks to buy in August.

BTIG’s Eric Hagen reiterated a Buy rating on shares of Ellington Financial Inc. (NYSE: EFC) this May, while also raising his price target on the stock to $19 from the previous $18.50 target.

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. The company’s revenue was $40.08 million, also surpassing the previous quarter’s $39.07 million revenue. Ellington Financial Inc. (NYSE: EFC) has gained 16.3% in the past 6 months and 25.62% 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 $38.7 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $40.5 million.