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.
Usually, though, once investments are set at the end of the week they’ll stay that way. Let’s see how that pans out…
Investments are calculated automatically on the Cash tab in my Google sheets. Check it out! (I look for total return, and pick one from the top, one from the middle, and one from the bottom (that are eligible for the AIP) in the portfolio for investments.)
This account was going to only hold tax-free muni CEFs, and DRIP. Now however, tax status is very uncertain, so I am opening this account up to all holdings (that are eligible for the sharebuilder AIP).
Also, in anticipation of Tax Day on April 18th, I have stopped the DRIP of ALL positions in our accounts to increase our cash positions.
Every week I invest a small amount (~$150.00), pro-rated among the 3 closed end funds listed in the post title as found in our portfolio.
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.
The purchase on 11/29/16 effectively opens this account up to all CEFs.
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) CEFs (Closed End Funds) being purchased.
The dates spreadsheet (which calculates 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!