RE: Short positions10 Oct 2023 16:54
Hi TrekMalone - I never used to trade in and out of FTSE100 stocks, I just use to buy and hold. But after reading many of your posts about dipping in and out and sometimes selling the stock prior to ex-dividend, I've also now started to churn my holdings on a more regular basis. I've bought and sold Phoenix many times. Sometimes after stamp duty and dealing costs I'm only making a mear 10-12p per share, but it's helped to reduce my average substantially. My average is a little higher than yours at 522p, but the bulk of my holding will attract the 26p dividend payable on the 23rd October. My intention is to reinvest the dividend. My wife and I have only four stocks in our portfolio at the moment. We hold Phoenix, Avva, Legal & General and BAT. Currently 80% is invested in Phoenix Group. Nothing is guaranteed in this life as you know, but I have a strong conviction that Phoenix will be an extremely rewarding investment. Time will tell. Good luck. Atb Popeye.