The travails of trading illiquid stocks. I held 700 shares of a CEF that has made me a nice profit recently. Since the discount had narrowed quite a bit, I placed the shares for sale, I was able to sell only 100 shares a few days ago.
Today, I again, placed all remaining 600 shares of the fund, at a little higher price. My first sale was for the grand total of 1 share. I would have demanded that this sale have been commission free, but ultimately, I sold another 100 shares. Eventually, I sold all of the shares, but never for a lot greater than 100 shares. So, it's nice to make good money for a quick turn in an illiquid stock, but generally, I prefer more liquid stock.
Praveen, this is actually a plus for you, your system at your levels, would not encounter much difficulty in trading such a stock.
