Here is my most recent purchase for my dividend investing portfolio…
Funding Source: Regular Investment
Date of Purchase: 09/19/2017
Name: Voya Prime Rate Trust ETF
Amount Invested Today: $519.85
Total Basis: $526.80
Purchase Price: $5.20
Total Shares Purchased: 100
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.
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.