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Fidelity (FMAGX) Market value after recent 10:1 stock split jumps up and down daily with 1 step upda

unknown

I am using Quicken for Windows version 2019, vR17.6, Build 27.1.17.6.

Here's the problem: after the 10:1 stock split of my Fidelity (FMAGX) IRA on 8/10/2018, every day I do a One Step Update the Market value jumps up by a factor of 10, then the next day goes back to the correct value, then on day 3 it jumps back up by a factor of 10, then back down....

The stock split is recorded as a stock split, and both the register reflects the correct pre & post split prices for transactions made pre & post split. My Quicken share balance and cash balance ($0.00) match what is reported on Fidelity.com for this account.

I deleted all historical prices, then re-downloaded them but the prices all reflect the post-split price (around $10.00) all the way back for five years, and none of the downloaded prices are the pre-split price of around $100/share.

Any thoughts?

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mshiggins

Now that you have deleted and redownloaded the FMAGX prices, are you still seeing the cycle of 10x one day and 1x the next day?

unknown

Yes. I have also sold some shares after the 10:1 split, and those downloaded correctly with one-step-update.

Sherlock

The prices displayed in the price history table should not be split adjusted.

unknown

OK, that's fine, so that's all correct, but it still jumps up & down by a factor of ten each day!

Sherlock

If you haven't already, you may want to verify there aren't any placeholder transactions: https://getsatisfaction.com/quickencommunity/topics/quicken-faq-managing-placeholder-entries-in-quic...

Assuming the number of shares are stable, the bouncing you're seeing implies that the price is bouncing. As there are multiple price sources, its possible one is posting an incorrect price. If you haven't already, you my want to review: https://www.quicken.com/support/how-update-security-prices

You may also want to confirm the ticker symbol and CUSIP are set appropriately for the security.

You may also be interested in: https://getsatisfaction.com/quickencommunity/topics/fidelity-magellan-price-doesnt-update

unknown

OK, I think you're on to it. On 6/19/2014 my share balance was 24.883 shares.

On 12/5/2014 I bought 1.708 shares, but the share balance reported is 1.708 shares, not 24.883 PLUS 1.708 (26.591 shares)!

On 5/12/2016 there is a placeholder adding back the 24.883 shares, and on 5/14/2016 there is a placeholder removing the 24.883 shares!

In addition, there are 7 other placeholder entries with '0.0' shares added/removed.

Before I really start mucking around, (ya, I have backups...) can I just delete the placeholder that removes the 24.883 shares as well as all the "0.0" share placeholders?

It seems like I should be able to, but I really don't understand how quicken handles these things.

The ticker symbol is correct, not sure how to find the correct CUSIP or how to check it. All transactions have been downloading correctly for years, so I would assume they are both good.

I'm not sure why this would create the bouncing up & down after the recent split, but it's a start for sure.

Sherlock

You should be able to delete all of the placeholders although, based on your description, they're not likely to be the source of the issue.

My understanding is Quicken's third-party quote service uses the security's ticker symbol and the financial institution uses the security's CUSIP. Quicken 2019 displays the ticker symbol and CUSIP associated with a security on the Security List window (press Ctrl + Y). The FMAGX CUSIP should be 316184100 according to https://quotes.fidelity.com/mmnet/SymLookup.phtml. You should be able to verify the CUSIP used by Fidelity in the OFX (select Help > OFX log).

If the CUSIP is not correct, what may be happening is you're receiving one daily quote from the financial institution and subsequently receiving a different quote from the third-party quote service. As explained in https://www.quicken.com/support/how-update-security-prices, there is a hierarchy associated with how the security prices are entered.

unknown

OK, I checked the CUSIP ID # in the Security List window and there is none - it's blank for FMAGX.

I looked through the OFX log and found this entry:

<UNIQUEID>316184100<UNIQUEIDTYPE>CUSIP</

so it appears quotes are coming from the correct place(s).

I haven't corrected all the placeholder entries yet, but will tonight before updating tomorrow morning. We'll see.

Sherlock

The CUSIP being displayed as a blank could be the issue if the correct quote is being provided in the OFX log is correct and an inappropriate quote assigned. Is the imported CUSIP assigned to another security? To coerce Quicken to reset the CUSIP associated with a security in Quicken, I suggest unchecking Matched with online security on the Edit Security Details window. When you subsequently access the account or download from the financial institution, you should be prompted to match the imported security.

unknown

Hmmm. The check box for "Matched with online security" is not only unchecked, but grayed out - I can't edit the check box.

unknown

I think I may have found the issue, but don't know how to fix it:

The security we've been talking about has the correct ticker symbol (I just checked against my on-line account), and all transactions and share balances download correctly in the register.

As I was checking things in the security list I noticed the security immediately below FMAGX in the list was "Fidelity Natl Info SVCS" (Fidelity National Information Services - ticker FIS) and the CUSIP # listed is 316184100 !! The check box next to "Match with online security" is checked.

So...
Looking in "holdings" in the Security Detail View of FMAGX, it shows I have only 24.883 shares - exactly the amount of the placeholder entry in my register.

The correct number of shares in the fund is 295.351, which is what is shown in the Holdings for FIS in the Security Detail View.

Summary:
FMAGX has the correct ticker symbol, no CUSIP # and an incorrect share balance
FIS has an incorrect ticker symbol, the correct CUSIP # and a correct share balance

unknown

Clarification: "FIS has an "incorrect" ticker symbol only in the sense that it differs from my mutual funds symbol, which is FMAGX.

Sherlock

As I suggest earlier, uncheck Matched with online security on the Edit Security Details window for FIS. When you subsequently access the account or download from the financial institution, you should be prompted to match the imported security.

unknown

OK, unchecked "match.." for FIS and did a one-step update.

Although Quicken didn't prompt me, the FMAGX is now matched, and in the Security List has the correct CUSIP number listed; FIS is not matched and has no CUSIP number in the Security List.

I received no errors with the update, but the valuation in my account is stuck at the 10x value - it didn't drop to what it should be.

When I look at Security Detail View (this is unchanged from before, I just never mentioned it)...

...the Transaction History for FIS appears to have all transactions for FMAGX except for the last two on 1/3/19, but FMAGX has only two transactions from 2014.

As I mentioned in the previous post, FMAGX shows only 24.883 shares held, while FIS has the correct number. (in my FMAGX register, everything is there correctly)

As far as I know, I don't own any shares in FIS unless they are buried in some other mutual fund, so what happens if I delete FIS from my list?

Maybe delete FIS and FMAGX, deactivate one-step update for FMAGX and start over with the connection?

q_lurker

@paraguay1983: At some point you mismatched FGMAX to FIS. How is not particularly relevant immediately. What I would do ...

Make a backup of your data file.
Go to the transaction list for that account.
Sort the transactions by security (click the security header at the top of the list).
Edit one at a time all transactions for FIS and change the security to FGMAX.
Go to the security list (Ctrl-Y) and delete the FIS security.
Evaluate the new FGMAX holding; compare it to your brokerage statements. Delete any extraneous or duplicate transactions.

HTH

unknown

To everyone on this list, thanks much. I just finished with q.lurker's suggestions and the FMAGX account shows the correct share balance and Market Value.

Tomorrow morning when I update I'll know for sure - if the Market Value doesn't jump by 10x the problem's fixed!

I'll post a final note tomorrow morning with the (hopefully) definitive answer.

unknown

Looks like it's all good - no new transactions downloaded, but the market value didn't jump, which used to be a daily occurrence, downloaded transactions or not.

Thanks again to everyone.