Yield does seem to be getting a little low here.
However if you sold in order to capture a better yield elsewhere and it is held in a taxable account then you may have shot yourself in the foot if you have held for a few years or more.
All those distributions you received would be recaptured as ordinary income and taxed at your marginal rate. Thus you after tax proceeds for reinvestment would be significantly lower than the current value in your portfolio. That means the funds you have to reinvest are lower and to achieve the same level of income needs a higher yield (ie. more risk). Also tax reporting for a partial sale is tricky and Turbotax can't handle it.
If you are in an IRA, that's different.
Liza -- I held my shares in my cash account. I have had them in my 401k account also - below the level that I am allowed. I have sold 90% of my holdings in the 401k now. Of course I didn't catch the high(never do) but definitely higher then today. I am not trying to catch higher yields - a lot is sitting in cash waiting for those higher yields that should come over the next year. Trying to figure out what a good yield should be for a pfd of a solid company to hold out for. Liza - any opinions.