Monday, 25 January 2016

Recent Buy(2)! January 2016

      Just recently I posted about my first buy of 2016, where I bought 46 shares of ManuLife Financial (MFC). So I had bought 46 shares of MFC at $20.24 during the first week of January. The stock boasted a 3.36% dividend yield, which means an additional $7.82 per quarter and $31.28 in annual dividend income. I had also lowered my average cost basis for this position from $20.38 from my first purchase to $20.31, and my MFC share count rose to 88. Then, markets decided to give just about every company a 3-8% 'discount' and I was fortunate enough to have some more spare capital to deploy along with some dividends so I once again bought more MFC last week.

    So, seeing as how a company which I tend to lean towards picking up at any price under $21 was trading in the under $19 range, I grabbed another 47 shares at $18.77! Adding $7.99 in dividend income per quarter, $31.96 a year at a 3.6% yield. I now have a total of 135 shares of MFC and a new average cost basis of $19.77.

    Now, while the market may have gone down even further, with MFC trading at $18.24, and even lower last week. For the next while I will be holding off on adding further to this position, as MFC now represents a 8.9% weighting in my portfolio. So I will be focusing on other holdings, most likely the banks or a beaten down REIT or energy company.

Thank you for reading!

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