Monday morning blues means more buying opportunities for the High Yield Portfolio

With the markets down this morning, I took the opportunity to add a few more shares to the Amateur Investor High Yield Portfolio (HYP).

Merchants Trust (MRCH), British Land Co (BLND), City of London Inv Trust (CTY) and City of London Investment Group (CLIG) were on today’s buy list.

Merchants Trust

My Share Centre account tells me that “Merchant aims to provide an above average level of income and growth combined with long term growth of capital via a policy of investing primarily in higher yielding UK ‘blue chip’ FTSE 100 companies“.

I’m already a holder of Merchants, but the share price has fallen since my initial purchase on 16th August, so I buy a few more at 360.36p to reduce my average buying price from 373.6 to 363.84p

British Land

During my regular look at the “Shares going ex” in the back pages of Investors Chronicle magazine last week, I saw the British Land (BLND) go ex-dividend on Wednesday (5th October).

I’ve been meaning to add some BLND shares to the HYP for a while, so getting in today, before they go ex-dividend, seemed as good a time as any.

Forecast yield for year ending 31 March 2012 is 5.5%, a dividend of 26.04, rising to 5.6% for 2013. I bought in at 471p today.

City of London Inv Trust (CTY)

I have to admit, buying CTY was a bit of a mistake!

The aforementioned “Shares going ex” section of Investors Chronicle shows City of London Investment paying a dividend of 16p with an ex-div date of 5th October.

I mistakenly bought City of London Investment Trust (CTY) at 262p when I should have bought City of London Investment Group (CLIG)!

Still it might have been a fortunate mistake as a quick look at CTY news tells me that on 14th September a story entitled “City of London IT highlights its yield” opened with the paragraph “City of London Investment Trust increased its full-year dividend for the 44th year in a row after its net asset value per share increased by more than a quarter in the year to end-June.”

Perhaps it wasn’t a bad purchase after all!

City of London Investment Group (CLIG)

Following my wayward purchase of City of London Inv Trust (CTY), I decided I should buy what I’d intended to buy – City of London Investment Group (CLIG).

So I purchased a few at an average buy price of 352.33p

Forecast yield for 2012 is 6.9% and 7.7% for 2013.

I need to do a bit more research on CTY and CLIG to see if they are linked.

Need any more proof that I’m an Amateur Investor??

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