Hey, things change…
…and could change again, up until 5PM on the day orders are created (usually Mondays). I will try to update this post by 4:30PM on that day if I decide to change anything.
UPDATE: 4:20PM, 11/14/16 New investment choices, in order: PMF ($75), BBK ($50), $MHI ($25)
ShareBuilder Plan Edit Warning
Edits to your ShareBuilder Plan must be complete by 5:00pm (ET) 11/07/2016 in order for the changes to be effective for the 11/08/2016 investment day.
Investments are calculated automatically on the Cash tab in my Google sheets. Check it out! (I look for Negative Total Return, and pick the bottom 3 in the account for investments.)
This account will only hold tax-free muni CEFs, and will DRIP.
Every week, I invest a small amount (~$150.00), pro-rated 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 average for the 3 weekly investments. Dividends will add to the share balance through DRIP. Withdrawals and weekly investments will reduce the cash balance. I am 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 let it 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!