Recently I started what I call the Small Change Challenge (SCC). Others might call it something else, because I am sure it's nothing new. I started using the small change in my account to purchase stocks. My definition of small change, is any amount between $1 and $2.99, so for example if I have $102.35 left in my account after a purchase I move the $2.35 to savings until I accumulate enough to purchase the stock I want. If it is enough to purchase the stock I want then I would move that $2.35 to my brokerage account and make the purchase. I am able to do this at limited cost because Virtual Brokers only charges a penny (1 cent) per share. So If I purchase a single share I will only pay $0.01, ten shares would be $0.10 and so on.
So I decided to start a position with a stock I always had an eye for and it falls perfectly within the "small change" slot. Pro Real Estate Investment Trust (PRV-UN) is the stock I have chosen. PRV-UN obviously from the name is a REIT which trades on the TSX Venture Exchange and pays a monthly dividend of $0.018 per share. I always want a REIT stock in my portfolio after my past experience (see That Gut Wrenching Feeling). As I stated before, I am a novice when it comes to the stock market so I won't bother to go into how or why I chose this stock. Maybe at a later date I will share my method of choosing a stock but for now let's just say it's not traditional. #TPC!!
PRO Real Estate Investment Trust is an open-ended real estate investment trust. It acquires, owns and operates a diversified portfolio of commercial real estate properties across Canada.
I started with the idea over the weekend and I already accumulated a whopping $7 (buss 3 blank lol) in small change which was good enough to purchase 3 shares of PRV-UN at $2.25 each. This purchase means the projected dividends will be $0.054 at the end May. Usually that is best case scenario and we all know what worse case would be.
Let me know what you think and share some of your unorthodox tips or ideas..
MEK WI TUN UP DI TING