Hello everyone,
I wanted to write a new post detailing a new position to my growing, albeit slow, portfolio. With the market being pretty much in complete disarray lately, I think it is a good time to add new companies to my portfolio to diversify my holdings and increase my dividend income. Today, I initiated a small position with Bank of America Corporation, BAC. I've been wanted to add BAC for some time and finally had some extra cash to nibble into a position. I only purchased 24 shares of BAC at $12.25 per share for an overall cost of $294, as I did not incur any trading fees with the purchase. I'll continue to purchase shares here and there to add to my holding. BAC represents only my second company within the financial sector, which will add to my The Bank of Nova Scotia, BNS, holding within financials. Thank you for taking the time to stop by and I'm working on a post to detail my portfolio growth since the last update.
I don't know much about BAC from a financial/dividend perspective but to nibble on a position is OK to start. The only American banks I would consider are WFC and USB. I also like the Canadian banks, TD, BNS and RY. Thanks for sharing.
ReplyDeleteDivHut,
DeleteThanks so much for stopping by. Sorry for delay in responding, as I cannot post to comment from my iPhone or iPad for some reason??? I'm a big fan of Canadian Banks and have a small position with BNS. I'd love to add WFC soon as well.
Banking stocks have taken a real hit so far this year. This could be a great time to buy in to the industry. The BAC dividend is on the low side but this should increase with time.
ReplyDeleteThanks for stopping by, as it's much appreciated. I'm not a fan of that low dividend either but I'm hoping it has some good growth over the next 5 years. BAC will not be a big position for me but I wanted some more financial exposure to diversify my portfolio a tad more.
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