Well, today is the first day when things really started happening. If you remember from day 1, I purchased a total of 5 stocks to begin my dividend capturing strategy. I closed one of those stocks on the same day I bought it for a profit of $149.26 and with no dividend captured.
One of my rules is to close a stock on day 1 if it reaches or surpasses the value of the yet-to-be-captured dividend. That's exactly what happened to ETE. I'll get into more of my rules as time goes on.
Today, I closed all of the other 4 stocks for an additional total profit of $153.06. I sold all of these 4 remaining stocks at a loss but the dividends will make up for it. So, for the first round of dividend capturing, I'm up $302.32. Not bad and right on target for the strategy.
Here's a roundup of each stock transaction:
1) GLP - Purchased @ $18.50, sold @$18.35, dividend @ $188.70. Total profit = $127.80
2) NEWM - Purchased @ $13.62, sold @ $13.33, dividend @ $197.05. Total profit = $36.39
3) ETE - Purchased @ $17.11, sold @ $17.45, dividend @ $0, Total Profit = $149.26
4) APU - Purchased @ $45.43, sold @ 44.78, dividend @ $159.60, Total profit = $51.70
5) CS - Purchased @ $15.57, sold @ $14.70, dividend @ $359.12, total loss = $62.83
Generally, I am buying about $7,500 each stock, give or take a few dollars.
Tomorrow, I'm setting up to buy only 1 stock.
More on that tomorrow!