Odd Lots

[bottomfeeder]

Just hate it when you put up a marketable parcel up for sale, and instead you end up selling an odd lot. I think that you should not be paying brokerage on odd lot trades. I remember selling one share in mpg at one stage. That was an expensive odd lot sale. I managed to get that cancelled. What do your brokers do.

[Joshuatree]

My broker(full-service) may sell in a few lots (over some days)but the commission stays the same as for one trade at the set fee/%.

[Snow Leopard]

I usually buy into the sell depth and sell into the buy depth with a price limit.

As a result I often get the entire order filled straight off.

If not I wait a while and sometimes adjust the order price to get the order filled.
It is still one trade and one fee.

[Marilyn Munroe]

Donate your odd lot shares to charity.

https://www.sharesforgood.com/

Boop boop de do
Marilyn

[percy]

Thanks MM a really great idea.

Offcourse you can take advantage having odd lots.
One poster tried to have one share in every Australian listed company,so if any had a SPP [share purchase plan] he could take part in it.
Usually you can apply for more,and as the SPP share is set below market price he made good profits.
I am currently trying it myself.Had shares in an Aussie company called Oncard,somehow I ended up with my broker buying two parcels.I sold the big parcel and ended up with just 500 shares. The company is now TFL,and I had rights to take up 160 shares at 12 cents,.So I would now have 660 shares.
I have applied for just a few extra ie another 39,340 at 12 cents,which if successful will take my holding to 40,000,a very marketable parcel.

[CD_CHCH]

Holding a single share in multiple companies sounds like a great idea but is there a requirement to hold a minimum number or value of shares in a company, and if so who sets those rules - is it the stock exchange or the company itself?

[percy]

Holding a single share in multiple companies sounds like a great idea but is there a requirement to hold a minimum number or value of shares in a company, and if so who sets those rules - is it the stock exchange or the company itself?

Not sure.I think the NZX sets minimum holdings.
I know on usx.co.nz PAZ have a minimum holding of 20,000 shares,yet checking the share register there are a large number holding fewer.
I have found most of my odd lots have come from selling a holding after it has gone ex divie, and having DRP I have ended up with those shares.
As for trying to buy one share in every Aussie listed company I have no idea if it is still possible.I would think you would have to buy 1,000 then sell 999.

[Jay]

Holding a single share in multiple companies sounds like a great idea but is there a requirement to hold a minimum number or value of shares in a company, and if so who sets those rules - is it the stock exchange or the company itself?
yes you are right - Stock exchange I think
Plus either the company or share registry will write to say something along the lines of you have below the minimum number so either sell, buy more or we will sell them for you

[CD_CHCH]

That's a shame - I thought Percy's idea of single shares had lots of upside to it and very little downside (apart from brokerage fees)

[steveb]

ASB have this info on their site,they say the NZX set the minimum holdings as:-



Price



Minimum shares




< $0.25




2,000 shares



$0.251 - $0.50




1,000 shares



$0.501 - $1.00




500 shares



$1.001 - $2.00




200 shares



$2.001 - $5.00




100 shares



$5.001 - $10.00




50 shares



$10.001 +




25 shares

[macduffy]

Donate your odd lot shares to charity.

https://www.sharesforgood.com/

Boop boop de do
Marilyn

Several years ago I saw that there was an Australian equivalent to sharesforgood. Does anyone know the name?

[percy]

Try; www.sharegiftaustralia.org.au

[macduffy]

That's the one!

Thanks, percy.

:)