On 2/3/12, I purchased 100 shares of PGF in each of 3 IRA accounts at $17.53 and $17.54.  I combined these shares with existing shares held in these accounts, which resulted in a reduction of my basis for each lot.  I now own 1100 shares of PGF in 4 IRA accounts with an average basis for each account as follows: $17.78, $17.85, $18.06 and $17.78.

At the last dividend payout, PGF is yielding me over 6.5% with its monthly dividends.  The monthly dividends are one reason that I like this ETF as they provide some small measure of leveling my monthly dividend income.

I like to sell Covered Calls on the stocks that I own.  In fact, having options available is a criterion for me to consider any stock.  Unfortunately, the options on PGF do not provide a very great return even though I have been able to sell both Puts and Covered Calls in the past.  Currently, I do not have any Covered Calls sold on my PGF shares.  I will probably sell some Calls when I can get a price for the $19 strike.  In the meantime, I will be happy with the dividend income from PGF.

PGF first came to my attention reading Jim Cramer’s latest book, “Getting Back to Even”.  It is one of the few stocks he recommended in the book.  Jim continues to make references to this book on his show as a road map to help survive the current market conditions.  I recommend the book to anybody that is interested in owning individual stock.