HSBC

[Dod1010]

This morning I sold a small part of my holding in HSBC at £7, which was my target price. Had I not been rushing out I would have reported this transaction this morning so as to give you all the chance to buy. Sorry about that as as invariably happens when I sell, it has closed today at £7.058

Still, sell into strength and all that. I am very happy because my remaining holding is doing very well. Inevitably though I will suffer a modest loss in dividend income as I have bought AstraZeneca as a replacement. HSBC was by a margin my biggest holding thanks to its steady price increase over the last several months. It has not been over £7 for some years.

Dod

[Arborbridge]

Dod,

Was this a "trim" as it was becoming too large in your portfolio?
How did you set a target price? or perhaps, why did you need one?

Arb.

For info, my latest is to trim UBM and buy more 3iN and HFEL. My HYP has therefore decreased a smidgen compared with my ITs.

[Dod1010]

The answer is that it was a trim because at well over twice my average holding it was I thought just getting too big. I am not/was not at 9% of my capital though. Much as I like and have faith in HSBC (I have held it since 1991 although have traded it many times since) I would not allow it to dominate my portfolio to that extent.

I added to my holding on 30 September 2015 at £5.12, which I thought was too low and decided to sell that holding at £7, as simple as that. In fact I have currently sold less than half of that purchase only because it was held conveniently in one of my ISAs. If I sell more it will be from a non ISA holding which causes me possible problems with CGT. I hate that sort of complication but I like to make a trading profit as much as anyone, despite this being the HYP Board!

Dod

[77ss]

This morning I sold a small part of my holding in HSBC at £7, which was my target price. Had I not been rushing out I would have reported this transaction this morning so as to give you all the chance to buy. Sorry about that as as invariably happens when I sell, it has closed today at £7.058

Still, sell into strength and all that. I am very happy because my remaining holding is doing very well. Inevitably though I will suffer a modest loss in dividend income as I have bought AstraZeneca as a replacement. HSBC was by a margin my biggest holding thanks to its steady price increase over the last several months. It has not been over £7 for some years.

Dod

Amusing. I guess it all depends on where you start from.

I am currently contemplating top-slicing Astra Zeneca (profit taking/overweight - target 4700p) and moving the proceeds into...

HSBC! For the higher yield.

[Dod1010]

I am well overweight still, on HSBC. The yield is very attractive and I assume the share price increase is indicative of the confidence of the market in the dividend. There comes a time though when the capital value is just too much for me at least. I was relatively light on AstraZeneca so am happy to build there. I hope both do well on the income front.

Dod