Dividends & etoro limit sell orders

jazzldazzl

Dear All,

I´m trying to understand how etoro works, and have a few questions that I hope you can help me to answer:

On the 17th of August, the day before the ExEff date, I bought 50.00 units of CVX (which is paying out dividend 4 times a year) at a rate of 99.91.
On the 18th of August, these were sold again for 98.95 with a limit order, where the rate was set to 99.91.

My intention was, as you may have figured out, to get the dividend with no loss and with no intention of profiting from the price going up.

Nevertheless, I did have a loss here, because of the execution price for selling was well below the defined rate for the sell limit order. Why is that?

Also, the paid out dividend is only 0.47, but should be more: The yearly dividend for CVX is 5.36, so with the rate mentioned, it should be about 0.67.

Finally, why is buying labelled as stock, when selling is CFD? Is this the best or only way to do things?

Thanks in advance

kedgegravy

jazzldazzl I suggest you read more about eToro dividends to understand how a dividend works. As for your question regarding stocks which is labelled as CFD when selling, you are basically shorting a trade. That means you are borrowing a stock and selling them since you are expecting that its value will go down. I could be wrong but I'm thinking that you're mistake "selling" with closing a trade.