Once again I was able to make some trades and increase monthly dividends by over 2.5% with no cash out of pocket. I did this partly because my online broker is handing over their accounts to Etrade later in the year and I wanted to consolidate my portfolio. But I also have been on the lookout for ways to increase income from current dollars invested. So today I sold my stakes in CNP and GLW in my taxable account and used the money to buy more shares of CHI. In my IRA account, I sold T and WFC and used the cash to purchase more shares of ZTR. Both moves together lead to monthly payouts instead of the quarterly payouts I was getting from the individual stocks and lead to an overall increase in monthly cash flow of over 2.5%!
While I have nothing in particular against Etrade, I think it would have been better for Capital One to give their account holders a choice of brokerages to transfer their accounts to. I'm leaning towards TD Ameritrade and would transfer my accounts now, however since I'm in the habit of re-investing dividends, I own a lot of fractional shares that I don't think I could transfer over. Capital One plans to pay cash for fractional shares before transferring accounts to Etrade, so I guess I'll have to wait until that all plays out and transfer my accounts back to TD Ameritrade after they've gone over to Etrade. Kind of a hassle, but I'm not seeing any other way to make the switch. That's why I think Capital One should have offered more choices.
Wednesday, April 25, 2018
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