Unexplained change in number of shares

Patrick Day

For my investment accounts at Schwab, I have separate cash account set up to reflect each brokerage account. In one of my accounts, I recently noticed a difference between the actual Schwab balance and my Quicken balance, which I traced to a difference in the cash balance. For some reason, number of shares is significantly greater than actual. The cost basis is the same as Schwab, but market value now reflects a much higher number, due to the change in number of shares. I looked at recent transactions and all look ok. Any idea why this might be happening?

Frankx

Hi @Patrick Day,

From your description, it seems like your "cash" is invested in what Schwab calls its "Money Funds" for which they generally seeks to preserve value at $1.00 per share.  And from what you describe it seems as though there could be an error in one of the transactions where the dollar amount is correct but the number of shares received is more than it should be. 

When you "checked the transactions" did you look at both the dollars invested and also the number of shares added/subtracted related to each of the transactions?  If you just checked the dollars, you should go back over the number of shares for each transaction as well because the error is probably there.

Let me know what you find.

Frankx

UKR

Ummm ... was there a recent Stock Split for this security?

Patrick Day

As I mentioned, this is a cash account. Number of shares should only change with deposits/withdrawals. Looking at the cash accounts in my other Schwab brokerage accounts indicate the same amount for market and cost, as it always has shown. This problem just appeared on this one account and none of the others.

Frankx

Hi @Patrick Day,

From your description, it seems like your "cash" is invested in what Schwab calls its "Money Funds" for which they generally seeks to preserve value at $1.00 per share.  And from what you describe it seems as though there could be an error in one of the transactions where the dollar amount is correct but the number of shares received is more than it should be. 

When you "checked the transactions" did you look at both the dollars invested and also the number of shares added/subtracted related to each of the transactions?  If you just checked the dollars, you should go back over the number of shares for each transaction as well because the error is probably there.

Let me know what you find.

Frankx

Patrick Day

Yep, that was it....slipped a couple of decimal points on a transaction last week.

Thanks

Frankx

Hi again @Patrick Day,

Yes - those decimal points CAN be SLIPPERY little critters!!!

Glad that it worked for you!

Frankx