Yes, of course you can. But in the small dollar amounts you mention, you will pay commissions that are also high, at least as a percentage of the amount you are investing. For example, the 8.95 commission at Schwab on a $100 purchase is a rather large percentage. The advantage of mutual funds in an IRA is that you can usually have the distributions re-invested automatically, and without any fee. Of course, you should never buy a mutual fund with a load.I have been told that some companies allow you to re-invest the dividends from their stock, but I cannot give an example right now.
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