CVI closed 3 days ago at 51.40,then a 5.50 divy was announced . 51.40 +5.50 = 56.90.
Closed 1/28 at 57.39,about .49 too high in my book. i sold to take a cap gain.
Shorts may drive it a bit more,but I don't want to be around for the 5.50 drop when it goes'x'.
That is when I will ease back in.
VR Energy Inc. ( CVI ) will begin trading ex-dividend on February 01, 2013. A cash dividend payment of $5.5 per share is scheduled to be paid on February 19, 2013. Shareholders who purchased CVI stock prior to the ex-dividend date are eligible for the cash dividend payment. At the current stock price of $57.58, the dividend yield is 114.62%.
SO, BY ALL RIGHTS,IT SHOULD DROP 5.50 TODAY,to adjust for the divy.Anyone buying at todays rise is getting screwed.Bet they think they can buy thru Feb4th! and still get the divy.
hmnnnn....so, it drops around $5.50 ex-div day and then what? Are you assuming it will begin a slow slide after that for some reason? Look at that chart! There's no reason to think this thing won't keep it's slow steady climb upward. Of course, there are always bumps/corrections along the way; however, there's nothing to suggest that things aren't looking rosy short term for this great company! I love it when great stocks announce special divy's! It's like free money! I've had several over the last year offer special divy's (HFC, SIRI, LVS, AMTG) and each one is much, much higher now than it's ex div. date. GL with your strategy though....