Sold 100 Shares of Allianzgi Convertible & Income Fund (NYSE:NCV) at $4.64; Bought 14 shares of AT&T (NYSE:T) at $28.54

Updated: 16 December, 2020 seen 30

On October 5, 2020, I sold the last 100 shares I was holding of Allianzgi Convertible & Income Fund (NYSE:NCV) at $4.64/per share.

NCV is a nice monthly paying dividends stock, I have been holding it in our dividend portfolio since March 2019. My investment strategy has changed and lately, I'm selling of stocks I cannot sell options on. And NCV is one of them.

From the money received I bought an additional 14 shares of AT&T (T ) paying $28.53 per share. T is a stock I'm keeping in our daughter's stock portfolio. With its quarterly dividend of 0.52 cents per share, this latest buy has a dividend yield of 7.28% and will pay us an additional $7.28 every quarter (before tax). Awesome!

T is paying a dividend in the following months: February, May, August, and November

I like T for many reasons - it is the so-called dividend aristocrat stock, the company has raised its dividend for the last 35 years. The company is also paying out a reasonably good dividend (above 6%), last but not least T is a decent stock to sell options on (puts and calls). My goal is to collect 100 shares and start selling covered calls. 

For the rest of the year, I'm looking to take $6.18 (after tax) from this buy, which is about 0.17% of our $3,600 goal for 2020

2019 in Review and Financial Goals for 2020. 

I'm now holding 60 shares of T, which contribute about $106.08 (after tax) yearly to our dividend income portfolio yearly. My average buy price per share: $29.72

40 shares to go once we will be able to start selling covered calls and generate extra income from T. I'm looking to get there by the end of 2020

The Bottom Line

If we had 100 shares of T today, we could sell November 6, 2020, covered call (monthly options) with a strike price of $30, to get $0.21premium. In case our shares would get called away on expiry we would realize $49 income in 32 days, that's a potential return of 1.64% in 32 days or about 18.68% annualized 


Hi! My name is Reinis Fischer (38), a proud dad and devoted husband. CEO and Founder of Terramatris crypto hedge fund, drone enthusiast, world traveler, photographer, and passionate lover of Georgian cuisine (vegetarian).

An ex-pat living in Georgia since 2011, I trade stocks, take photographs, work out at the gym, and many more. Here I write about travel, finance, and other things that might interest me.