- Joined
- Oct 13, 2010
- Messages
- 10,797
Usually I'll have $X to invest, and I'd kind of like to invest it all, which would mean buying some odd lot plus factional shares. I don't even think it's possible to buy fractional shares*, but my question is "do you (try to) go for an even lot (multiple of 100) if you can?" Perhaps higher priced issues, you'd go for multiple of 50 or even 10. But do you bother? If so, why? It seems in the old days your trade would be easier to match, when matching was done by a person. So in the old days those trades went through faster and also (I think) might have had a less expensive commission price. I didn't trade back in those days, but I do recall hearing "odd lots", and that was associated with inefficiency and higher cost.
But now, with computers doing the matching, is there really any difference? Will I get the same price for my trade? Should I just buy 513 shares and not 500? It's going to have the "dividend reinvestment" checkbox, so the nice, even 500 is going to get messed-up as soon as I get the first dividend anyway.
* except your brokerage house might help you out in that regard if you sign-up for dividend reinvestment.
But now, with computers doing the matching, is there really any difference? Will I get the same price for my trade? Should I just buy 513 shares and not 500? It's going to have the "dividend reinvestment" checkbox, so the nice, even 500 is going to get messed-up as soon as I get the first dividend anyway.
* except your brokerage house might help you out in that regard if you sign-up for dividend reinvestment.