Hi folks last week I wrote about trimming my positions in JP Morgan and Proctor and Gamble which you can read here. Well last Friday November 25th I made a big decision and decided to sell my entire position in both company’s. The decision wasn’t an easy one, because in my post last week I had mentioned that in the future I would be interested in buying more shares of each company.
Reasons for Selling
- Wanted better exposure to US market
- Canada/US Exchange Rate (The loonie is currently $0.74 making buying US stocks expensive)
- Sold JP Morgan 70 shares @ USD $79.34 =USD $5,553.80
- Sold Proctor & Gamble 50 shares @ USD $83.08 = USD $4,154
After exchanging the money into Canadian I received a total of $12,931.24. Due to selling these stocks in 2017 I will lose $433.23 in dividends.
Thursday December 1st I will post on what I purchased to replace these stocks in my portfolio.
So what do you think of my decision to sell?
Thanks for reading.