8/10/18 Fidelity mutual fund share split price problems/ Quicken Mac 5.7.2

Unknown

Several Fidelity mutual funds split shares 10-for-1 on 8/10/18 (including Fidelity Contrafund FCNTX). Quicken is downloading incorrect pre-split prices for 7/6 /18 and for 7/13/18 through 8/9/18.

John_in_NC

I see this as well with this security. I can't recall what supplier Quicken is using for price quotes, but I also see wrong prices when looking at Yahoo historical quotes.

John Burgess

When I downloaded transactions from Fidelity, it showed up as an Add Shares, which is wrong. I deleted it and instead added a Stock Split 10 - 1.


Then I noticed that downloaded prices were in the /10 range going back to the end of July. I fixed July 31, and deleted the rest up to aug 9. ( I don’t care about daily price changes.). I hope it doesn’t download the wrong prices and overwrite again.. but for.



that seems to be a pretty simple fix.

Unknown

John Burgess said:

When I downloaded transactions from Fidelity, it showed up as an Add Shares, which is wrong. I deleted it and instead added a Stock Split 10 - 1.


Then I noticed that downloaded prices were in the /10 range going back to the end of July. I fixed July 31, and deleted the rest up to aug 9. ( I don’t care about daily price changes.). I hope it doesn’t download the wrong prices and overwrite again.. but for.



that seems to be a pretty simple fix.

actually, I deleted the incorrect share prices, too. But when prices are next downloaded, the incorrect prices repopulate. (This even without any transaction downloads).

Paul3

Same issue for FDGRX.  If I just add the Stock Split transaction, my account balance is correct, but the price history shows pre-split prices for 7/11 - 7/17, and also for 6/29 and previous.  Weird....

Larry G Krause

The best way to fix this is to manually edit the security prices for the dates in error. However, make sure you have your options set for manual entry override (which is the default).

Deleting prices will cause the wrong pre-split prices to be downloaded on the next update to that security.

Apparently, when Quicken updates a security, prices missing since the prior update are downloaded. The price downloaded for a given day is the historical value of one share today rather than one share then. In a 1:10 split, one share today was 0.1 share before the split, thus the price update is 1/10th the pre-split share price.

A way to avoid the problem is to force a security update the day before the split, thus updating prices up to the split.

Regardless of the work-arounds, ultimately the Quicken team should really fix the problem.

james Franke

Larry G Krause said:

The best way to fix this is to manually edit the security prices for the dates in error. However, make sure you have your options set for manual entry override (which is the default).

Deleting prices will cause the wrong pre-split prices to be downloaded on the next update to that security.

Apparently, when Quicken updates a security, prices missing since the prior update are downloaded. The price downloaded for a given day is the historical value of one share today rather than one share then. In a 1:10 split, one share today was 0.1 share before the split, thus the price update is 1/10th the pre-split share price.

A way to avoid the problem is to force a security update the day before the split, thus updating prices up to the split.

Regardless of the work-arounds, ultimately the Quicken team should really fix the problem.

Is there any indication this is on the list of things to fix?

Parador

Does anyone know: 1) if Quicken knows this is a bug and 2) if they ever intend to fix it? 

Rich_M

I also had this scenario with a 1 for 3 reverse stock split this month. Prices for 5 days prior to the split were incorrect.  Discovered this while reconciling my 11/30 statement which didn't balance, so I just adjusted the month end price.

Parador

I suppose I could fix this manually but the account has monthly transactions over several years and I really don't want to have to do manual adjustments when the program itself should do it. I also haven't verified how wrong the calculations of capital gains & losses are but unless I manually change every single transaction, I expect they will be wrong as well. It is very frustrating the number of issues with the current program. Things that worked fine for years are broken. The report generator is horrible. I've been a loyal Quicken user since the days of Daisywheel prints and they can't do something as simple as a stock split? Really?