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No matter how you explain the price of stocks to someone, a majority of investors still believe that low priced stocks are a better way to go and can provide a better rate of return. Obviously, some low priced stocks do perform better than some high priced stocks. But in general, a good stock will perform just as well if it is priced like Warren Buffett's Berkshire Hathaway (NYSE:BRK.A) A shares, as a lower priced stock like Ford (NYSE:F), which traded below $2 a share in 2009. WallStreetNewsNetwork.com just updated its list of top yielding stocks under $10 a share (it also includes a couple that trade for round $11 per share). Many of the companies listed are closed end funds, such as the Dreyfus High Yield Strategies Fund (NYSE:DHF), which sports a yield of 11.6%, and the Western Asset High Income Fund II Inc. (NYSE:HIX), which pays out 10.9%.

But there are also regular corporations, such as Alaska Communications (NASDAQ:ALSK) which provides landline and wireless services to Sarah Palin's state. The stock sells for around $10 per share, has a forward price to earnings ratio of 37, and pays a yield of 7.8%. The company reports earnings on March 4.

Another example is Hercules Technology (NYSE:HTGC) which is a private equity, venture capital, and venture debt firm. It sells for less than $11 per share, has a forward P/E of 9.8, and pays a yield of 7.4%.

Provident Energy (PVX) processes, transports, stores, and markets natural gas liquids in the United States and Canada. It sells for slightly more than $8 per share, has a forward P/E of 17, and yields 8.8%.

For a list of over 15 stocks that pay a yield over 6% and sell for less than $10 per share, go to wsnn.com. Just remember, very high yields may not be sustainable.

Disclosure: Author didn't own any of the above at the time the article was written.