Friday was buying day for the Dogs of the Dow. I already own these stocks. My only new Dogs investment this year is to increase my position in Pfizer by 50%. I just accomplished that with a limit order to buy at 25.90. These shares, which are yielding 4.48%, will make a nice complement to the ones I purchased last December at 20.19.
The bearish case for Pfizer was succinctly summarized by Prakash Kolli in an article recently syndicated by SeekingAlpha. However, people were even more bearish on Pfizer last December. The shares I purchased then are up 28% for the year and my original investment is now yielding more than 7% due to dividend increases.