As you must know by now, reading some of the responses here, you are dealing with a trust, a totally different animal, not a stock. Trusts come with a life span and this one is approaching the end of its reign, with another 2 years or so of its existence left.
Going all out and investing in something unfamiliar is risky and not the smartest move. Being well informed is a must. Even a number of the other trusts with still years to go, have proven to be poor investments.
An expensive learning experience, one that should serve you in the future, and one most of us have encountered at some point.
Well, if this is of any consolation, this is your chance to gain experience. Remember "experience is what you get if you didn't get what you really wanted".
As a side note, some people think that investing is a quick and easy money. It is anything but. It takes a lot of learning and then keeping very disciplined track of your own investments. And there is a risk that you lose money. It appears that your loss of 1800 is a serious issue for you. If so, please do yourself a favor and never invest money that you cannot afford to lose. You can learn from discussion boards. There is a number of very knowledgeable people on this board and they go out of their way (some to a point of sounding frustrated - and understandably so) to educate. There is also quite a bit of worthless noise. The first step is to learn how to differentiate the two. I hope you find the time and stamina to educate yourself and will do better in the future
Hoto, [I placed this response here so it would appear at the top and not get lost in the minutiae below]
Just from your post below on the initial $3k purchase, this was a cheap lesson as they go.
A month ago I counseled the long holders to sell at 6.80, as that was a generous reprieve from where it is headed. Yet others did their best to confuse you claiming that this paid a good and sustainable dividend.(r.c et al) Your best chance now is to sell in the 5's because as the months go by this equity gets more attention as to the termination paradigm. That means there will be fewer and fewer people fooled by the lure and your chances of there being enough of a stampede into the stock becomes a diminishing asset. So you bought in July, that means you received the four payments for 2.232.
Now your basis is 8.77 Selling at 5.20, if it ever hits there again, will be a loss of 3.57 per share or a gross loss of [$3000/11 = 270] shares x 3.57 = about a thousand depending on penny particulars.
To make this back you need a 50% gainer.
You take the slow road and get that in three years, or gamble the fast road.
A good purchase right now is UAN. they just completed a plant turn around, a major holder did a non dilution offering so the price is as low as it will go. It is in a growth sector of agricultural and it pays a dividend in the 8- 10% region. Trading in the low 24's with a target of high 20's by august.
There are other good candidates out there. The highest dividends right now come from the refiners, but that situation is relatively volatile. and you do not have enough volume to trade in and out profitably unless you have a good online broker with low fees.
There are some good REITs to rotate into, NCT and NRZ will be paying in the 8% area and great potential for capital gains. They are in fast growth mode right now.
Stay out of large cap pharmaceutical. They have had an unjustifiable run thus no longer safe, and they will break your heart by this time next year.
I use probability and statistics on historical data using a stock analzyer that I made so my risk is much less. I never purchase at the top. When you purchased it, you should've done some research asap. Did you lose a lot? That sucks man :(
I paid near 11bucks LAST July! About 3grand total purchase....I am out about 1800 if I sell now. I did some research such as their p/e and divi was out of sight too good to be true...Earnings per share was in positive territory. Bottom line is....No matter how good it looks on paper, if you never heard of the company, don't see any commercials, pop ups, fleet on the road, and brick and motor stores=DONT BUY IT NO MATTER WHAT!!! Yeah, lesson learned :(
Well aren't you just a warm ball of sucks a lot! IT IS NYSE, infact if "The Street" calls it a stock, then are they wrong too....I think YOU are attempting to split hairs. Here is your proof doubting thomas: http://www.thestreet.com/story/11924251/2/5-stocks-going-ex-dividend-tomorrow-hrzn-whx-semg-pre-hon.html BTW, I DID do research but only as far as last July when I made my purchase. As I said in my last answer.... ....No matter how good it looks on paper, if you never heard of the company, don't see any commercials, pop ups, fleet on the road, and brick and motor stores=DONT BUY IT NO MATTER WHAT!!! Yeah, lesson learned :( Hope that just makes you happy that a little guy that is trying to earn a living got stiffed 67% ! Karma, so becareful in how joyful you are toward my pain.
The point now is to load up some more during the post-distribution downturn in order to reduce your average price per share (aka dollar-cost-averaging), if it will help you get back to even during the next pre-distribution uptrend. Let's hope it drops back to $4.50 or below.