Express investment portfolio Spring cleaning

The sky is grey in Montreal and its been like that for the past couple days. So while its not appealing to be outside, I stay inside, count my every single pennies and I try to figure out what I can to improve my situation in a way or another.

The first step was an easy: I needed to take advantage of the $20 000+ contribution room available inside my TFSA. I had called TD Waterhouse this past weekend but the broker couldn't take any orders for the TFSA. Anyway, I called today and I proceed with two contribution in kind. I had two investments hold inside my non-registered portfolio and got them transferred to my TFSA. Those investments are: Laurentian Bank of Canada (LB) and The North West Company Inc. (NWC).

I also proceed with a $1 120 cash contribution for my TFSA. This is for my next investment move. Yesterday, I announced that my next investment will be in Northland Power Inc. (NPI). I received a comment from a reader suggesting Brookfield Renewable Energy Partners L.P. (BEP.UN) and  Brookfield Infrastructure Partners L.P. (BIP.UN) as investment. BEP.UN seem to be stronger than NPI and I have to say, BEP.UN appears a bit more appealing. I am still thinking as the money is getting transferred into my TFSA.

Another thing I did is to set up back a DRIP inside my non-registered and TFSA account. I never had a DRIP in my TFSA, but I had, back in the old days, a DRIP in my non-registered portfolio. What will be able to DRIP and reinvestment will be. EIF, PBH, JE and some other stocks will DRIP, some won't, because the amount earn in dividend is too low. I registered to a DRIP so that way, I will be more on a strict budget. I am spending too much these days and I came with this little trick to reduce the money I have at my disposal. I had a DRIP inside my RRSP since the start.

And finally but not the least, I had place a sell order for all of the units I hold of Sprott Canadian Equity Fund. I cannot wait to get ride of this investment. Every single investments I had been holding of Eric Sprott had turned into complete disaster. The money collect will be reinvested, probably in JFS.UN. I cannot wait.