Auto-Invest Plan in QYLD

$NASDAQ 100 Covered Call ETF(QYLD)$ is one of my auto-invest plans that has the most number of successful auto-investment orders. To-date, I have been using auto-Invest method to buy 37 times this ETF, this is in order to average down my cost price . The average cost price of my $NASDAQ 100 Covered Call ETF(QYLD)$ is at $17.15 and it is only $0.02 (-0.12%) difference from the last closing price.

QYLD generate income for its investors through covered call strategy, which historically produces higher yields in periods of volatility. The top 10 constituent stocks of QYLD on 12 Oct 2023 is as follow:

Investing in dividend stocks is a good way to combat inflation and investing in a bear market. Collecting a recurring monthly dividend payment can strengthen our financial position and improve our portfolio’s returns especially during this period where most of the stocks in my portfolio are in deep red.

From an income standpoint, QYLD is an incredible long term investment. QYLD has made monthly distributions 9 years running. The previous 20 months dividend distributions is as follow:

NASDAQ 100 Covered Call ETF (QYLD) Coming dividend projected amount between USD 0.1626 to USD 0.2167. Ex-dividend date is on 23 Oct 2023 and Payment Date is on 31 Oct 2023.

Singapore investors are subjected to a 30% US dividend withholding tax on all dividends received from US listed equities (i.e stocks, ETFs, bonds, mutual funds, etc) because Singapore doesn’t have a tax treaty with the US. After deducting the 30% withholding tax, the dividend yield will be around 8%.