On May 1, my limit order for the sale of my shares of Sherritt International went through. I originally had the limit order set to $2.65 for most of the duration of the trade. I raised it a few times to the $2.70. But recently, I decided to lower the limit price in order to close out the trade as there continues to be weakness in the price of nickel, which affects this company.
My position was initiated on Mar 4, 2015, which you can read about here. During this time, the company also paid a dividend of $0.01 a share. So, I received a $10.00 dividend payment for my 1000 shares.
Initial Investment including commissions : $2359.95
Proceeds of Sale including commissions : $2520.05
Dividends Received: : $10.00
Total Profit = $2520.05-$2359.95+$10.00
Total Return = Profit / Initial Investment
This position was held for a total of 59 days. The dividend received from this position does not get counted in my dividend income reports as it was for a trade and not investment purposes. As I am at work during market hours and cannot access my brokerage account, I use limit orders for buying or selling at the prices that I want. I was actually going to place a trailing stop order for this on Apr 30, but changed my mind to a normal limit order .
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