When will updates for preferred stock prices resume?

MS DOS 3.3

Last update was 3/11/2022

bmciance

My preferred stocks are updating fine.  Can you give an example of one that is not updating?

If you haven't already, check that on the security list the box is checked to download quotes. 

MS DOS 3.3

bac.prl == Bank of America Series L
T+C == AT&T INC. 4.75% PFDPFD SER C
COF+N == CAPITAL ONE F 4.25% PFDPFD SER N

Chris_QPW

Most likely these aren't provided by Quicken third-party quote service.  Instead, they are download with the transaction information from your financial institution.

bmciance

Interesting, I can't add any of them to my security list since they don't show up.  Also, the only one I can seem to find even outside of Quicken is the Bank of America one which is bac/pl at Fidelity.  Preferred stock tickers are strange since each broker uses a different format.  The Quicken quote service also has its own format but if you enter the underlying security it will usually show all securities that start with that symbol.  It seems as though these are no longer included.

I assume that since you say the last update was 3/11 these all updated fine previously?

MS DOS 3.3

I think the problem might be that Quicken is using the security symbol instead of the CUSIP ID for updating prices in some cases. I'm pretty sure no one at Quicken who is on the Quicken team has any idea what I'm talking about. I predict Quicken for Windows will cease to exist sooner rather than later. Quicken has moved passed creating stand alone software and is clearly more focused on expanding as an Integrated Financial Services company.

FYI:
A CUSIP number is Wall Street's way of identifying an investment security, like a stock, bond or mutual fund.

Officially, a CUSIP number (more formally known as the Committee on Uniform Securities Identification Procedures) identifies all registered U.S. publicly-traded companies and all U.S. government and municipal bonds. A CUSIP also identifies less traditional investment securities, including preferred stock; funds; certificates of deposit; syndicated loans; and U.S. and Canadian listed options.

Source: https://www.thestreet.com/investing/what-is-a-cusip-number-15011245

Chris_QPW

Fixed a couple of typos.

Quicken's third party quote service only uses symbols for updating quotes.  Preferred securities are rarely on their list of symbols download quotes.  This is the same with non public securities and such.

The CUSIP ID is use only to match up securities, it isn't used for downloading quotes.
On the other hand, security matching between Quicken and the financial institution is down by the CUSIP ID unless you go into the security details and tell it not to match to the online security.

The CUSIP ID is part of the information downloaded with the transaction information and the current price.

EDIT let me clarify this statement "The CUSIP ID is use only to match up securities, it isn't used for downloading quotes."

Quicken downloads the investment data, it uses the CUSIP ID to match to the securities it has.  If the price information is in the downloaded transaction information, it updates the price in the security.

So, indirectly it does use the CUSIP ID for getting the quote but doesn't directly download it.  If a security price is being updated this why then it requires a download from the financial institution, and that the financial institution to update that price.

MS DOS 3.3

CUSIP ID is an identifier. Security symbols are not - might come close - but are not identifiers in the general case. Close only counts in horseshoes and thermal nuclear warfare.

FYI:
A CUSIP number is Wall Street's way of identifying an investment security, like a stock, bond or mutual fund.

Officially, a CUSIP number (more formally known as the Committee on Uniform Securities Identification Procedures) identifies all registered U.S. publicly-traded companies and all U.S. government and municipal bonds. A CUSIP also identifies less traditional investment securities, including preferred stock; funds; certificates of deposit; syndicated loans; and U.S. and Canadian listed options.

Source: https://www.thestreet.com/investing/what-is-a-cusip-number-15011245

MS DOS 3.3

To bmciance:
I did a similar experiment and the my results are the same as yours - quotes on preferred stock appear to be Missing in Action.

MS DOS 3.3

One thing that is interesting is that a security can not be added to Quicken using its CUSIP ID

bmciance

@ms dos 3.3 - maybe for these preferred stocks.  I have 6 preferred stocks and they all update just fine. Mine are the typical $25 par preferred stocks.  I noticed the Bank of America one that I found on Fidelity was much higher than that.  That's probably why the quote service doesn't have them. 

MS DOS 3.3

I have 2 quicken files for the same investment accounts. One is using the new simplified investment accounts and one file uses the traditional transaction based method. The simplified file has updates but no price history beyond the most recent and transaction prices. The traditional file has stopped updating prices on preferred stock.

Has my use of "Simplified Investment Accounts" in a separate file caused price updates in my traditional file to break?

The addition of "Simplified Investment Accounts" has been done extremely poorly in my opinion. This addition may be a factor in my issue with quote updates. There seems to be chaos in the Quicken Desktop camp.

Chris_QPW

The two data files shouldn't have anything to do with each other.

As for how the security that doesn't have a public symbol gets added, you download the information from the financial institution, which has the CUSIP in it and Quicken asks you if you want to add it.  You can't add a security using the CUSIP and you can't edit the CUSIP.

MS DOS 3.3

The "Simplified Investment Accounts" reports CUSIP 14040H733 as down 11.69% today.

The price was actually unchanged according to Schwab and Yahoo.

Hey Quicken - good stuff y'all have there.

MS DOS 3.3

If one wants to understand why symbols are not identifiers, check out:

https://www.nyse.com/publicdocs/nyse/data/NYSE_Symbology_Spec_v1.0c.pdf

And remember, this only covers symbols on NYSE.

Some methods only lead to madness.

Chris_QPW

BTW I should have mentioned, you should report that problem with Simple investing mode using Help -> Report a problem.  At least that will make them aware of it.