The market in month of April rallied with S&P (ETF: SPY) gaining almost 2%, as compared to more than 4% drop in March; volatility is becoming the name of the game recently. The moody market never goes straight up or down but over long period, direction of market is up and will rewards patient investors like us.
I allocated capital in energy securities that have started rallying from Jan bottom but still under-valued in my opinion: ONEOK Inc. (OKE) with current dividend yield of 5.48%. Oil related market segment is a difficult beast to predict, however, it does not matter to long term investors as long as we can enter it at a decent price point.
I initiated 10 positions in OKE on 4/13 at $49.57 and added 10 more positions on 4/20 at $49.57 in my taxable account. At current yields, it will add an amount of $48.40 annually to my passive dividend income. I also added small amounts in other securities: ABBV, CL, COP, XOM, IBM, KMI, RDS.B, CLX, T, and VZ in my DRIP Portfolio. This will push me closer to being financially independent in 12 years.
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.
Full Disclosure: Long on the above mentioned securities.
Thanks for reading.
How is your portfolio doing recently? Getting excited on progress.