Sold to close BRSS

action

Sold 400 shares of BRSS at $28.63. This closes the position originally entered on 5/10 at $27.10. Total return less commission was $595.30. Return per share after commission was $1.49.

rationale

I received dividends of 3.75¢ per share twice on those shares, in addition to the profit stated above. Still, this stock didn’t deliver the kind of return I was waiting for.

The stock dropped very hard today on significant volume, after gaining nicely last week. Over the medium term, say the last 3 months, it has just not gone anywhere. I am in a portfolio pruning mode, right now, where I am looking to eliminate positions that are not contributing to portfolio return. This is one example for that.

BRSS still scores well, so if it had some kind of technically interesting setup, I might get interested. For now, I am out.

August 29, 2016 at 3:18pm · BRSS · sell to close · stock


Previous:Short XON 7/22 expiration, $25.50 strike calls expired worthlessly
Next:Bought to close XBI 9/16 expiration $63 strike calls