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May 08 2020

My Latest Trades: CLM, PNNT, USA (buys); RA (sells)

Photo of stock ticker board
It has been quite some time since I’ve made a buy, mainly because I have little cash to invest with. But still, with the late February market crash in reaction to the rapidly growing COVID-19 pandemic, I felt it was a good time to make a move and buy some stocks. So on March 2, I bought the following stocks at the following prices, locking in (?) some very good dividend yields at those prices.

CLM 25 shares at $9.886 per share (22.5% dividend yield)
PNNT 50 shares at $5.73 per share (12.6% dividend yield)
USA 25 shares at $5.97 per share (11.4% dividend yield)

Hindsight is, as always, 20:20 and my move to buy these stocks was premature. The market continued to drop, and I could have gotten better prices <sigh>. That’s what happens when you make buys shortly after a crash. I could beat myself up over buying prematurely, but with the good dividend yields I got, I can’t complain at all. The market will eventually recover, and my three buys will eventually come back to even and more. As of this writing (the morning of May 8), CLM is $9.65, PNNT is $3.085, and USA is $5.40. I’m still in the red for all three, but CLM and USA aren’t that far from even. PNNT may struggle to get back to even, but it should when the market and economy have recovered. CLM is committed to their dividend through June, so I do expect a dividend cut for July and beyond.

In March I again needed cash so I sold off some more of RA, selling 40 shares at $13.3866 per share.

Given my cash situation, I don’t know when I’ll make another buy. My plan is to set aside just a little (and I do mean little) cash every month and slowly save up for another buy. Fortunately, the market continues to be volatile so I’m sure there will still be good buying opportunities to get 10%+ yields in the coming months.

Image Credit: AhmadArdity (pixabay.com)

 

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