Jul 10 2017

My Latest Stock Buys: CODI, CLM, FGB

In the past two weeks I have made three stock buys, which is a bit more than the usual month’s 1-2 buys. But I saved my pennies since my last buy, so I could do it.

First, I bought an additional 100 shares of CODI (Compass Diversified Holdings) at $17.45 per share. While my timing of this buy could have been better, it’s still a relative bargain being slightly below its 52-week average of $17.70 per share (the average of $15.90 (52-week low) and $19.50 (52-week high)). This buy brings my total shares of CODI to 400 and adds $36.00 per quarter (or $12.00 per month) to my projected average monthly dividend income.

Next, I bought 9 shares of CLM (Cornerstone Strategic Value fund) at $15.86 per share. It’s a small, almost trivial buy, but I wanted to have the total number of shares up from 191 to a nice round 200. Thanks to its crazy high dividend yield of 17.6%, even these paltry 9 shares adds $2.09 to my monthly dividend income.

Finally, I bought 150 shares of FGB (First Trust Specialty Finance and Financial Opportunities Fund) at $7.2512 per share for a total of 750 shares of FGB. Like my CODI buy, I got it at just a hair below its 52-week average of $7.255 (the average of $6.08 (52-week low) and $8.43 (52-week high)). This stock buy will add $26.25 per quarter (or $8.75 per month) to my projected average monthly dividend income.

Thanks to these three stock buys, my projected monthly dividend income has increased by $22.84 to $833.58. That means I just met (and barely exceeded) my 2017 goal of having a projected monthly dividend income of $833.33 (or $10,000 per year)! Yeah!! <fist pump> It’s so awesome to reach my goal just 10 days into the second half of the year which gives me quite a bit of wiggle room for further investing and some experimentation along the way. What will I do for the rest of the year? I’m not certain, but I am considering buying into proven dividend growth stocks as a way to mitigate future dividend cuts. This will, of course, slow the growth rate of my dividend income but it should help to preserve dividend income.

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