Any of you trade in and out of IGR lately? Volume has picked up as of late, be it more volume on red days, but nevertheless at least we're above 300k shares average.
Sold my position way too early today at $7.35. Didn't see the spike coming, oh well, profit is profit. Tried to jump back in all day, but never saw IGR pull back lower than about $7.38. I have a feeling Friday will be red for the markets and if IGR decides to follow suit, I'll be able to reload somewhere in the viscinity of $7.25 - $7.30.
I don't do any trading, but it seems to me you'd do best buying in when the discount is more than 10% to the NAV and selling when the price approaches the NAV (such as now, when the discount is down to 3%)
If you factor in today's activity IGR is now trading at less than 1% discount to NAV. I'll stay away for the time being and check back in a few days before we go ex-dividend next month. I think IGR is fully priced now and individual REITs are looking more attractive now.
That's exactly how I ended up paying a lot more for my shares back when it first hit around 5 bucks. It just kept rising. Now I keep a core holding and use a few hundred shares to trade with. Good luck