Today I initiated a position in Toronto-Dominion (TD).
- TD: 110 shares @ 43.36 --- Yield 3.74% (initial position)
Total capital invested is $4779.60 and this will increase my yearly dividends by $178.20.
This investment is slightly off the beaten path for me as I really don't like the banking sector. While TD has fallen quite a bit over the past six months, its PE ratio is still around 12. Buying shares of bank with a PE over 10 is a bit dangerous in my opinion, however I tend to stay away from safe investments as is evidenced by my recent buying spree in the energy sector.
I really wanted to take a 3 month break from heavy investments, but I have found myself with my finger on the trigger over the past week. GE looks pretty good here in the $23 range. GE already is one of my largest positions so I opted to diversify with this block purchase.
Energy companies continue to dominate the headlines and I will certainly be adding to my positions tomorrow.