I sold 365 shares of FBR @ $12.20 in Roth IRA today. The 365 shares were from the merger between FB and FBR.
FBR gained 20% since the merge was finalized in April 1. With an adjusted quarterly dividend of $0.34 per FBR share, current yield retreats to 11.1% from 14.4% when I acquired FB. While still high, the uncertainty of FBR's investment banking business, coupled with the already-decades-low interest rate environment, makes further dividend increase highly improbable.
This roundtrip transaction has an ROI of 31% and ARR of 137%, a good start of my Roth IRA establishment.
I'm considering to add my positions in OCA in Roth IRA with the proceeds from the sale.