Hey, things change…
UPDATE: October 15, 2016 – 10:15 AM PMO, FMN, & PMM have ex-dividend days on the 19th & 20th, so I will buy those instead.
This account will only hold tax-free muni CEFs, and will DRIP.
Every week, I invest small amounts in closed end funds (listed in post title) as found on cefconnect.com.
UPDATE: October 15th, 2016 I decided to make the ‘sharebuilder’ investments weekly, every Tuesday.
Beginning in May, 2016, investment amounts will be based on 1/72nd of the settled cash in the account so it should last ~44 weeks. Dividends will add to the cash balance, withdrawals will reduce it. When the investment amount drops below $25, I will fund the investments from our checking account. I am still waiting for a decision on when the Costco Advantage plan benefits will be terminated, or if they will be continued. I think they might just quietly continue…
For October, 2016, investment amounts will be divided amongst the 17 new to the portfolio tax-free muni CEFs; BBK, BFK, BKN, BTA, EVN, FMN, IQI, LEO, NAD, NVG, NZF, OIA, PMF, PML, PMM, PMO, & PMX @ $56 each. This amount is approximately equivalent to 12 investments @ $79 each ($79 X 12 = $948), minus $1 for each trade after the first 12 ‘free’ trades on the sharebuilder ‘Advantage Plan’ ($56 X 17 = $952) and ($952 – $5 = $947). November’s investment schedule has not yet been determined.
The October 1st sale & purchase effectively reset this account to the tax-free muni CEF strategy.
Beginning with the October 18th investment day, investment amounts will be based on 1/132nd of the settled cash in the account so it should last ~44 weeks. Dividends will add to the share balance, withdrawals will reduce the cash balance. I am also funding the account @ $300 monthly from our checking account. I am still waiting for a decision on when the Costco Advantage plan benefits will be terminated, or if they will be continued. I still think they might just quietly continue…
The number of tax-free muni CEFs in this account is 23; BBK, BFK, BKN, BTA, CMU, CXE, EVN, FMN, IQI, LEO, MAV, MFM, MHI, NAD, NMZ, NVG, NZF, OIA, PMF, PML, PMM, PMO, & PMX.
Here is a screenshot showing the investments queued on the Capital One Investing (sharebuilder) site, followed by the changed investments screenshot;
Here’s the changed investments screenshot;
A change was made to the investment schedule to invest every Tuesday beginning October 18th, 2016. I will pro-rate the investment amount for the three (3) tax-free muni CEFs (Closed End Funds) being purchased.
The dates spreadsheet, showing the ex-dividend and payment dates for these CEFs, can be found in my google sheets. I also try to keep the calendar on my blog updated.
As always, YMMV!