Sold My Bellsouth Holdings
As part of my action plan to improve my returns, I decided to sell my holdings in Bellsouth. With the recent stock price movement from the planned merger with AT&T, I thought it was a good opportunity to move my investment dollars to help round out my portfolio.
While I haven't really posted much details about my stock investment asset allocation, I already know I am underexposed to smallcaps and international asset classes in my portfolio. My plan was to sell the Bellsouth stock and invest the proceeds in a smallcap ETF in my Sharebuilder account.
I had 148.5294 shares of Bellsouth. However 10 shares were in certificate form, the remaining were in my DRIP account. I decided to only sell 138.5294 in my DRIP account because 1) I couldn't readily locate the certificates and 2) the 10 share were a gift from my grandmother. I figured selling off about 93% of my investment was good enough for now.
I mailed my request into the Bellsouth DRIP account administrator to sell the shares and received a check about 10 days later for $4,798.17. The stock sale cost me $21.08 in commissions. I moved this money into my Sharebuilder account and am planning on funding a ETF purchase with it.
ETF Purchase Plan
I plan to invest the money in Vanguard's Extended Market VIPER (VXF). I am a little concerned because I never like to buy anything that is hitting a 52-week high; but at this point I feel making some small asset allocation corrections is more important than timing the market. I decided to dollar cost average in by starting with a $1500 investment and will add the remaining amount into the ETF on any future pullbacks.
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