Sunday, September 14, 2008

Bought Back into UDR, Inc.

The Bottles & Cans Fund is on the move. On Friday, I bought back into United Dominion Realty Trust (UDR) with the proceeds from our quick trade in Wamu stock. Having originally held 41.527 shares, we were able to purchase 56.13 shares on the buy-back as we increased our capital through several short term trades in the last month and getting a lower price, as I had expected, since the share price has fallen. We picked up the new shares at $23.80 per share.

Funny thing... we made the right bet on Wamu at the right time. Wamu stock is now in the dumps at $2.89 per share. Looks like Wamu could be heading for an FDIC takeover which would be really sad as I like Wamu Bank very much.

Our new position:
56.13 Shares of UDR
Total Invested: $1,327.12
Total cost: $1,066.17
Capital Gains - 2008: $260.95

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