Allrighty. I picked up my last divy for some time. I have my sell order at 10.10. Waiting for a slight pullback to occur. Always a struggle when this is such a loyal payer however the premium of this fund is now too excessive. Would consider buying some back in the low-mid 9$ range. Lets see
I don't often post because it seems like these boards have become and outlet for peoples' political agenda and bashing forum, wish they'd just stick to facebook and twitter, so, it's nice to see investors ask for and give heartfelt and genuine advice, with that said, I have been trading HIX, HIO, GDF, and SBW all of which are part of the well managed Legg Mason funds, all pay the dividend monthly.( all have a long history, check it out) I use the technical’s/charts, I buy when they go down, which they do on average of two to four times a year. I hold them until they peak, again using charts, collecting the divi all the way up, then sell. The down trends are usually caused by the big funds doing their electronic triggered sell offs ( this is their strategy), so I follow them and when they buy back in so do I. I have been trading for a long time and am on the conservative side, but like all investors have been greedy with one or two of those potential big winners, and lost. I will continue to trade HIX and the others, on a larger scale each time, one of these days when the market drops again, which it will, I will load up, eventually I plan to use the funds as part of a diversified monthly divi IRA. If you don’t chart yet, go back and look at the ranges and volume history, it will give you a good idea of what can happen. Good Luck, and remember 12% of something is better than a whole lot of nothing
I've just been holding, reinvesting the HIX distributions for more than a decade, as a form of dollar cost averaging. Someday maybe I'll devote some time to charting, but like you say, the greedy can get killed, which is why I didn't pour my life savings into HIX when it dropped to $3 in October 2008. Over the years, most of my "bargain" investments have gone bankrupt. I haven't been hurt by sticking with Chevron, Johnson & Johnson, and Detroit Edison.
hix closed last year at $9.64. $9.88 now plus 99 cents distributed is 12.75% gain so far. S&P500 closed 2011 at 1258, today 1438, 14.3% gain plus maybe 2% of S&P dividend yield. Overall a fairly good year compared to dismal expectations. But it's the decades of compounding that count.