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SD235
A limit order may not always be executed even though the target SP is reached. LGEN like all FTSE 100 shares is traded using the SETS system. The buy and sell orders are loaded into SETS and the system uses a strict sequence of rules to match the buys with the sells. Two of those rules are-
“At best” orders take precedence over “limit orders”
Where orders have the same priority the one which matches the highest volume of shares takes precedence.
For example suppose you place a buy order for 5,000 shares at a limit price of 279p and later I place a buy order for 6,000 shares “at best”. If sell order for 9,000 is entered with a limit price of 278p then my order will be executed and your order will remain unfulfilled. First the “at best” order takes precedence but even if that were not the case and both orders had the same priority my order would still get preference because it matches the greatest volume of shares.
In reality it is far more complicated as other factors can also influence the outcome.
SD235 my point was it can always go lower than the limit order you set. Or never achieve it. I sold DLG just before last ex div and have been accumulating it on its way down since 300. This has worked out very well. But my point is I'm often checking the prices throughout the day / week and it's still a lot of hope no guarantee it was going to do this. Would have been much simpler to forget about the share for 5 years and just take the divi with no stress or concerns about its day to day volatility. Also I personally find it hard to be happy with a purchase of 300 when I could of picked them all up for 278 the other day. But perhaps that's just me always wanting better. As I said much simpler to invest and forget. DYOR
Think it will be a long term hold for me, as this share has been good for me, but will be something to consider in April, have never used stop loss or limit orders before, but from what I've been told they are very unreliable
Rzez
"You can use limit orders but may find that the price dipped lower than this point or never achieves it."
A limit order for buying will succeed if it drops below the limit order price you set as you will get the shares cheaper.
Rzez
"You can use limit orders but may find that the price dipped lower than this point or never achieves it."
A limit order for buying will succeed if it drops below the limit order price you set as you will get the shares cheaper.
Ps didn’t sell any of my LGEN.
On DLG I sold 1/3 before x-div, and now I wished I sold 2/3s or all (hindsight). This time I’ve added a few tranches on the way down and will decide my strategy closer to the time. But I always leave some in as you never know!
Always take the cash. The scrip never seems to get the best price as they all come through the market at the same time.
Some shares dip after the ex date but not all. I remember NG caught a lot out, self included, with their special divi. Many sold before expecting +50p to come off the SP and it didn’t move! So you lost the 50p (from memory) divi!
Quarterly payers often don’t move or move less after ex date.
So if you were to sell. Sell some to buy back and not all.
Usual caveats
Trek
Depends if you want an easy life. Sitting taking dividends is much easier. Selling before ex div can work out better but requires patience and continual checking for a good entry point back in. You can use limit orders but may find that the price dipped lower than this point or never achieves it. Risk vs reward. A lot of people are happy just to collect the ~7% div and not worry about fluctuations. They will also not pay the fees for trading etc. Each tobthere own though.
If share price goes over 300 by April ex div , sell and buy back later at lower price or hold and take dividends, what are your thoughts guys
LGC Capital Markets day today didn't help the share price ? Maybe tomorrow ?!!
My Weighted average price for SIPP 267.51p
But for my fund and share account average price paid:166.06p
And it wasn't even that close to the 138p bottom of the market.
Gulfharbour, yes very pleased with this one, its thanks to topping up at pandemic prices, just wish all my other shares were as good
Best of luck, and looking forward to next dividend collection
sorry my maths was wrong- you "only" have a yield of 7.8% lol
Robleo, with a 229p average you have a very tasty 9% yield which is amazing for such a solid share such as LGEN!
I'm jealous but am still pretty content with my paltry 7.1% yield.
Can't see this dropping south of 250 before april IMHO, but as you say, that would be a good topping up price if it happens, would prefer to see north of 300 myself
Very very hopeful. Unless there's a decent fall in the market and then of course you could get them considerably cheaper.
I've been in LGEN for quite a few years, initially in a small way, & then bumping up, and agree that it is a long term keeper.
However, In Q3/4 each year (last year excepted for obvious reasons) there has been an opportunity to top up. I know our Q3 price this year was a little subdued, but I'm hoping for a dip again south of £2.50 before the rise to next May.
Fingers crossed.
Yea Paul, one of my keepers too, think this will keep gaining now up to April ex div, only problem I have here is I have an average of 229, so any top ups, will mean averaging up, a very nice problem to have I think, wish I had more like this one
good luck guys
Good old LGEN, its one of my keepers.
Nice steady rises in legal and general share price recently. I think the only way now is up unless there is a decent set back in the market.
CITIGROUP RAISES LEGAL & GENERAL PRICE TARGET TO 336 (301) PENCE - 'BUY'
Thanks for this Armarni
https://www.legalandgeneralgroup.com/investors/
Capital markets event 14th October
A live stream link will be made available shortly before the event is due to start.
ATB