They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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First REIT: Partial divestment at 76.5c.

Wednesday, February 1, 2012

First REIT never did test 80c after it went CD. The highest it touched was 78.5c. This morning, after it went XD, its unit price declined to a low of 76c.

I made a decision to divest units which I accumulated at 76.5c and 77c earlier last month in January. I managed to sell at 76.5c as 77c could once again assert itself as the immediate resistance.

Overall, I still make a gain as I would collect a DPU of 1.93c payable on 29 February on these divested units. Therefore, it has turned out rather decently as a trade.

When would I again add to my remaining long position in the REIT? I see stronger supports at 75c and 74.5c. Could we see them tested in the next two months? Your guess is as good as mine.

Related post:
First REIT: FY2011 results.


Ray said...

Hi AK,

A novice question here.
If you sell on the day it XD through overnight sell order, you are still entitled to the dividends right?

AK71 said...

Hi Ray,

Yes. :)

Whoever buys on XD will not be entitled to the income distribution.

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