(PPR) Voya Prime Rate Trust ETF- 09/19/2017

Here is my most recent purchase for my dividend investing portfolio…

Purchase Details…

Funding Source: Regular Investment

Date of Purchase: 09/19/2017
Ticker: PPR
Name: Voya Prime Rate Trust ETF
Amount Invested Today: $519.85
Commission: $6.95
Total Basis: $526.80
Purchase Price: $5.20
Total Shares Purchased: 100

Fundamentals…

Morningstar Category: Bank Loan
PE Ratio: —-
Market Cap: $765 M
Distribution Yield: 5.55%
Frequency of Distribution: Monthly
Monthly Distribution: $.0240

Fund Strategy: Bank-loan funds primarily invest in floating-rate bank loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark such as the London Interbank Offered Rate, or LIBOR.

Comments…

PPR is a new acquisition for the dividend investing portfolio. I like this ETF because it pays a solid 5.55% with a $.0240 monthly dividend. The fund has history of steady distributions. Its fundamentals are solid and it’s near its 52 week low so there is a potential for appreciation. The expense ratio is a little high but the potential upside makes it worth it.

 

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