The algae living endosymbiotically within coral are thought to increase algal pigmentation with increasing depth to capture the diminishing light. Here, we follow distribution of the hermatypic coral Seriatopora hystrix along a 60-m bathymetric gradient in the Gulf of Eilat, Red Sea, to study coral ecophysiology and response to light regimes. Combining work on coral morphology, pigment content and genotyping of the photosymbiont, we found that total chlorophyll concentration per zooxanthellae cell and the dark- and light-acclimated quantum yield of photosystem II did not vary significantly along the 60-m gradient. However, the chlorophyll a/c ratio increased with depth. This suggests that the symbiotic algae in S. hystrix possess a mechanism for acclimatization or adaptation that differs from previously described pathways. The accepted photoacclimatory process involves an increase in chlorophyll content per alga as light intensity decreases. Based on corallite and branch morphology, this research suggests that S. hystrix has two depth-dependent ecophenotypes. Above 10 m depth, S. hystrix exhibits sturdier colony configurations with thick branches, while below 30 m depth, colonies are characterized by thin branches and the presence of a larger polyp area. Between 10 and 30 m depth, both ecophenotypes are present, suggesting that corallite morphology may act as another axis of photoacclimation with depth.