Re to:agatha "for the record, i own bpl, epd, mmp and apl. looking to add to the last 3."
For the record, the group of 6 are +6.19% YTD (year to date) and add in approx another 1.6% for distributions and that makes about 7.8% in 3 months. So now it might be, we would be chasing momentum going forward. But better late than never. Not all of the 7 pipeline growers are in upward momentum. If I come up with some more $$ I will look at the laggerts in this cycle, MMP, APL.
As to buying dips, and timing with ExDates, it requres careful work to win. More often than not, the before/after is much greater than the distribution, but like any odds event, sometimes you win, sometimes you lose.
I made it work for TPP as I wanted out. Watched and I got +5% in 5 days prior to ExDay and sold. Now it is down 10% from my sale price. But, it is just another tool in the toolbox of investing.
Also one might need to factor that in when looking at charts of MLP's, stocks, and funds.
I had a fund that the charts show lost 7% in one day in Dec last year. Seems they paid capital gains of ~7% on that day. The only way I figured that out is on the fund web site. Dvidends do the same thing to charts. And in funds, you do not know what the dividend, and capital gains payout is until it happens.
That fund was in my 401-K so I did not see the payout directly nor the drop in share price.
Oh yes, my group of 6 MLP's in which I have a average period of ownership of just shy of 12 months, I am up 24% counting distributions. Not bad for boring cash cow, safe investing. But that is just my opinion.