Hey, things change…
…and could change again, up until 5PM on the day orders are created (usually Mondays). I will update this post by 4:30PM on that day if I decide to change anything.
I expect PMO may get dumped due to the recent dividend cut. BTA or NZF or even PMF would be most likely to replace it. We’ll see…
This account will only hold tax-free muni CEFs, and will DRIP.
Every week, I invest a small amount (~$150.00) 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.
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 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, and will be adjusted as needed to show the result as $50 per investment. 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;
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 (which calulates these investments automatically!), 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!