I decided to invest some of the blog cash into more SPHD continuing to dollar cost average my price per share lower. I was evaluating some other opportunities but given that I am not complete with my due diligence on those other opportunities, I wanted to put my cash to work.
June is shaping up nicely for Shake the Money Tree revenue. Having about $500 to invest and earn more than the 1.1% that the Ally bank account currently offers, it was an easy decision.
#1. Current SPHD is paying north of 5% dividend yield at these prices
#2. Ally isn’t charing any commission fees for trading
#3. Current SPHD price was below my average price, so a new purchase will bring my basis lower.
I was able to purchase 15 shares at $31.79 on Friday allocating $476.85 into the MoneyTree brokerage account.
Here is a table of all my purchases:
So you can see my cost per share is around $37 in both calculations. Those amounts are close since I just started this dividend strategy. The ultimate goal would be to have a break even closer to zero as dividends would have been paid to me for the upfront investment.
Any thoughts on this approach?
I am a finance professional with over 20 years of experience and very passionate about all topics related to finance; enjoying the aspect of teaching and educating others along the way. All in all, I will show you how big this money tree can get over time as I get the branches (Earn, Save, Invest) as high as possible…Click here to see my financial progress to date: How high is the Money Tree?
