The market in October swoon up and down with Dow Jones Average (ETF: DIA) dropping almost 7% in short time of couple of weeks but recovered very well and then some. The moody market never goes straight up and have bowls of indigestion but that is the most opportune time to invest. These drops indeed serve as buying opportunities for patient investors like us.
I allocated extra capital in securities that I mentioned in Watch list for October: American Realty Capital Properties Inc. (ARCP), General Electric (GE), HCP, Inc. (HCP), AbbVie Inc. (ABBV), and Chevron Corp (CVX) with current dividend yields of 11.38%, 3.33%, 5.05%, 3.19%, 3.6% respectively. A lot has been written about ARCP whether it is a buy, sell or hold and for me, it is a hold as I’m looking at long term.
I initiated 25 positions in GE, 22 positions in HCP, added 50 positions in ARCP and 20 positions in Omega Healthcare Inc. (OHI). Also, initiated positions in Chevron Corp. (CVX) in DRIP account and added positions in ABBV, XOM, CLX, PG in my DRIP Portfolio. At current yields, GE, HCP and ARCP will add $22.00, $47.96 and $50.00 annually to my passive dividend income.
HCP was added in Roth IRA account where you do not pay any taxes when you them take out. This will push me closer to being financially independent in 12 years. The month of October was a busy month for me with a long shopping list in my cart
Kimberly-Clark Corp. (KMB) spun- off Halyard Health Inc. (HYH) to realize better their shareholder value and as a result of this, I received 2 positions in HYH and $10.96 for fractional shares.
Currently, I’ve got 4 Portfolios: DRIP, HID1, HID2 and a recently added Roth IRA account. New capital is distributed across these 4 portfolios in both taxable and tax-free accounts so that I’ve freedom to enjoy my passive dividend income whenever they are able to cover all my expenses. I also contribute towards 401K account in order to get employer’s match and help lower taxes as well.
My total portfolio value at the end of October is $50,350.85 which is 12.18% increase over last month of September Portfolio value of $44,881.98. This was mostly due to addition of positions in GE, HCP and ARCP and DRIPs in CVX, ABBV, XOM, CLX, PG. In this month of October, I crossed a very important and big milestone for me, i.e, crossing half-mark across a 6-figures portfolio.
Thanks for reading.
Full Disclosure: Long on the above mentioned securities.
How did your portfolio do in last month of October? Add new securities.