Unless my acquisition price is markedly different than the previous trading day’s close, I will not be providing purchase confirmations for market orders going forward. The portfolio and performance pages have been updated. The average cost of MMM has been changed on the performance page. Previously the portfolio had eight shares from one purchase at a price of $124.75 per share. Today, I purchased three more shares at $111.69 per share. My average cost now reads $121.19. The calculation is simple.
Averaging down is a form of dollar cost averaging. Sometimes averaging down gets a bad rap. Royal Dividends will be employing this approach frequently and doing it for the right reasons, in a way that makes sense. Look for a more detailed post on this topic in the near future.