Following the disposal of my temporary 92p IQE:IQE shares over the last few weeks, today I started the gradual selling in order to get my holding down to 10% of my portfolio value. I've decided that apart from OPTI:Optibiotix which is a "special" company and one I'm happy to be overweight in, I need to reduce my risk with the others.
IQE:IQE is especially risky because of the attention from major hedge funds who still maintain their heavy short positions despite all the recent shenanigans. I'm satisfied IQE:IQE has a very, very healthy long term future, but short term could be carnage.
I sold 1,635 shares at 129.0661p making £1,137.85 (117%) profit. This liberated £2,101.28 to re-invest elsewhere. I'm left with 7,174 shares comprising 13.4% of my portfolio value, so still a few more to shed before I get down to 10%.
Most importantly, the sale means my combined ISA/share account long-term monthly profit performance increases to 9.8% which is incredibly close to my 10% target.
I bet you can't guess where the first half went?
I've been frustrated for a while that I have 59,003 OPTI:Optibiotix shares, and really wanted to get it up to 60,000. I'd also invested £39,315 so wanted to get that to a nice £40,000. Given that the share price has dipped below 60p and my weighted average is 67p, I couldn't resist one last bargain buy.
I bought 1,719 shares at 59.95p costing £1,039.49. This takes my total OPTI:Optibiotix shareholding to 60,722 costing £40,354.84 and comprising 53.9% of my portfolio cost but currently just 50.8% of my portfolio value. The portfolio now comprises of OPTI:Optibiotix and everything else, with everything else unable to make much impression if there's any movement in OPTI:Optibiotix price. Each 1p change in share price is now worth £607, so this final purchase has got me over the £600 per penny milestone too.
This one really will be the last top-up. The 60K, £40K and £600/penny milestones are significant and it's all rather neat if I stop now.
The rest of today's buys were doubling my holding in TLOU:Tlou Energy. The price drop was way, way over-done a few weeks ago and I was happy to buy back in at 10.5p then. The price dropped again making them even more insanely cheap. I bought 10,832 shares at 9.685p costing £1,058.03. This brings my holding to 20,991 shares with a weighted average of 10p. Given these were 17p less than 2 months ago and nothing has materially changed other than reserves have increased by over 900%, I'm confident they will double in value during 2018.
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