My transaction records for this stock are as shown below. Average purchase price was $1.01.
The chart of MGCCT is as shown below. From the chart, we can see the price was on an uptrend for the past few months. Even though the price is still below the NAV of $1.301, I chose to lock in profits first.
Screenshot from Stocks.cafe
The next dividend distribution is in November. I may buyback if the the share price falls and the yield goes up to 7% during this period. The reason for selling is for profit-taking and not due to any fundamental changes. It could also be a good idea to sell off some REITs before the next interest rate hike. The extra cash could also be used to buy non-REIT stocks instead.
Screenshot from Markets.ft
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