Short position closed at unexpected price?
Joined 17/05/23 10:51
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By deepandcomplex · PostedHi all. I have a chunk of cash sitting around and don't really want to allocate it to equities or anything too risky so I was hoping to pick up some regular coupons from something like non-junk bond. I've tried to find bonds on my ISA or Share Dealing account but they don't really seem to exist. I can't find bonds nor ETFs of bonds... Also can someone help me to understand - like I don't want to bet on the value of bonds or rates going up. I only care about dumping cash in bonds and receiving regular coupons. I understand that the prices of bonds go up and down and therefore you may make a gain/loss on your principal if you sell before maturity, but I kinda want a low-risk bond and want to hold it to maturity. Or at least something that has that kind of risk-reward profile.
Using my IG mobile app I closed a short position on Hanesbrands at 19:40 on Friday 6 Sept. I used the 'close position' option rather than 'Buy'. I tried a couple of times as it was flagging 'phone or try again' and it closed but at 1422 rather than 1406 which was the Buy price at the time. Is this unfavourable price because I used the 'close position' option or the fact that it was late on a Friday or....?
Just trying to learn a little here and maybe someone has a moment to enlighten me.
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