Trade: Adding to my position in Seaspan Corporation (SSW)

I took advantage of the selloff to add to my position in Seaspan (SSW).  Seaspan is basically a similar to a REIT (Real Estate Investment Trust), but instead of owning and leasing real estate they own and lease container ships.  At $19.88/share, it pays a fat 8.4% dividend.  It is not a riskless position however - one is exposed to the overall level of international trade and a potential overbuilding boom in shipping.   That is why I keep this position small.  Also, since the dividend is not part of the 15% reduced dividend tax , I keep the position in my IRA.

Disclosure: Nothing in this blog is meant to be a recommendation to buy or sell.  I do not give investment advice.  Do your own research.  Do not rely on anything in this weblog to make investment decisions.  I do not log all my trades here. I only those that I think might be interesting. Consult your own investment professional before buying or selling any security.

I own a position in Seaspan Corporation.