I started buying this stock after the cancellation of the spinoff announcement in July. bought more in August and October. Average cost is just under $8.50 and hold 44,925 shares. Had a 6+% dividend paid to me during that time. This has been my second best investment during the last year. Wish there were more options so I could hedge some of my profits into the long-term holdig period.
Actually that dividend is over 8% based on my purchase price. I'm starting lighten my position with limit orders at $14.40. Not getting all the way out. Finding great values in a couple of other spinoffs.
I sold all my ORI in my IRA's at 14.25 yesterday. In my personal account I am holding until the one-year mark. It's becoming fully valued, but that does not mean it will not continue to go up. I'm finding value elsewhere now.
The 5% yield is a place to take money off the table, but I think we'll move higher as long as interest rates stay low. At $18 per share the yield would be 4%. In this interest rate environment with the company's outlook improving, that's achievable. Too early to know if we'll make it there, but the dividend is easily covered while I wait.