I’m still playing catch-up with a few articles after being on vacation in Hawai’i for a week. I’ll try and get caught up with all my recent trades by the end of this week.
I mentioned previously about selling off part of my position (78 shares) of Lorillard in March. You can find that article here. I wasn’t comfortable with a large exposure in my portfolio to tobacco. I also wasn’t comfortable with a company that made the majority of its profits from one brand, Newport, that could possibly be taken down with a ban on menthol.
Needless to say, I sold off the rest of my position (58 shares) shorty after the buyout was announced for $62.11/share.
My second recent sell just happened yesterday and was the smallest position in my portfolio since I just recently begain purchasing shares. Many of you may have seen that Dollar Tree plans to buy Family Dollar. While this was great news for shares of FDO, I’m not thrilled about owning Dollar Tree. They currently don’t even pay a dividend. Also since shares popped about 25%, I don’t find a lot of value left. These reasons plus having only a small position, I decided to liquidate a little over 10 shares of stock I held at a price of $75.46/share. Since my basis was $57.59/share, I made a profit of over 30%, although I will be taxed on profits as short-term capital gains. I only wish I had added a larger position to begin with but hindsight is always 20/20.
My portfolio has been updated accordingly and I’ve already put the funds into the Telecom sector.
Anyone else doing any selling in this market?