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Erroneous stock split download can't be undone

adamwadesmith

My portfolio management is dead in the water right now :-(

I updated my accounts this morning, and Quicken prompted me to update IJH with a 5:1 stock split. The dialog title was "Stock Splits May be Missing." I clicked "OK".

This action led to my portfolio value dropping. It turns out that the stock split did not occur in reality, and Quicken was in error! So to fix it, I:

Removed the stock split transaction in the investment account.
Deleted the historical prices with the wrong price information.

For a time, the portfolio value was correct. But I updated my portfolio, and the incorrect 5:1 price was recorded again!

So I bit the bullet and tried to restore from a 2-day-old backup file. But the backup also reflects the 5:1 price drop. Then I tried a 2-week-old file and got the same result. So apparently the information on stock prices is not kept in the data file but in some central place on my computer.

I went back to my original file and updated it again. Quicken then applied the 5:1 split a second time, so the price for IJH is one-tenth of its actual value.

I'm stuck. What should I do?

Also, I'm incredibly frustrated. In December, I had another unrecoverable data problem, and to fix it I had to spend two days rebuilding my accounts in Quicken from a fresh install. And now this. I've been a Quicken customer for 25 years, and this is the worst quality I've ever seen. You must do better.

Quicken for Windows, version R54.16

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Comments

q_lurker

IJH has had a 5:1 split.

https://www.ishares.com/us/literature/press-release/stock-split-press-release-2023.pdf

payable to shareholders of record 2/16/24 as of close of business 2/21/24.

The ‘trick’ here seems to be keeping the price history records in you file consistent with the split data. In your file’s price history data, when is the price dropping, if at all?

adamwadesmith

Thank you! Very helpful! The price of IJH on Yahoo did not reflect the split, which was confusing.

So it looks like the price was updated on 2/16, but the number of shares was never updated in any of the accounts, which was a bug. I manually entered the split for 2/21, adjusted the share amounts, ran an update, and all is well.

q_lurker

So I added IJH to my test file, and this is the set of prices I got downloaded.

Note that prices from 2/15/24 and later are 1/5 the prior prices. IMO, that is wrong. Prices through the 2/21/24 data should all be in the 280+ range since though that date anyone owning shares had the associated lesser number of shares.

Consider the Yahoo Finance data:

I expect after the 2/22/24 close, Yahoo Finance will show an Adj Close for all prior dates 1/5 of those being shown now (per the attached pic), that is in the $56 range.

timl62

The error in Quicken is that the stock price was decreased on Feb 14, but the number of shares wasn't increased until Feb 22. Therefore, the value of the investment in IJH between Feb 14 and Feb 21 is incorrect. The stock price should not have been changed until Feb 22 in Quicken. Hopefully, Quicken will fix this or at least change the process so that other stock splits aren't similarly misreported.

Jim_Harman

It is unlikely that Quicken will correct the erroneous share prices, but you could try updating the quotes every day for a while to see.

Or you can manually edit the price history to correct the prices. Manually entered prices will always over-ride prices from other sources.

[Deleted User]

I have come across this situation several times. It might be an issue of record date vs. split date. I find that the easiest solution is to change the split date to correspond to the price change date. The other way to fix it, is to convert the split prices to "pre-split prices and leave the original split date as is. When you do this, you might get the "missing split" message again, but it can be just ignored.

The other thing to keep in mind is that if and when you ever load in Historical Quotes, it could mess up your splits again because the historical price file sometimes doesn't reflect the splits.

Bottom line, this is an issue with Quicken's pricing vendor. It seems like they are initiating split prices as of record date instead of split date.

A. McDonald

I had this same issue in my file, and let it ride, hoping it would correct with another update. Now the share balance and total value are correct, but Quicken added shares to account for the split as a new lot with date 2/22/2024. I guess I could go in and manually correct, but this is a pretty standard transaction, it would seem that I wouldn't need to do anything manually to fix.

NotACPA

Q did an "Add Shares" because that's what your brokerage sent to Q. Q doesn't "make things up".

You're free to delete that Add, and input a Split if you desire. Be sure to create a backup before doing so.

Tony Luers

TSLY just had a reverse split and it messed up my account. Any fractional shares were sold, which didn't show on Quicken. For some reason it created a whole new investment for the split, so I was showing 2 TSLY's, one with the original shares and one with the split shares. I didn't think it was going to be a simple update.

q_lurker

@Tony Luers

Note the press release:

https://www.globenewswire.com/news-release/2024/02/13/2828695/0/en/YieldMax-Announces-1-for-2-Reverse-Split-of-TSLY.html

The reverse split included a new CUSIP for TSLY. That is what would have led to the second security. That makes things trickier in Quicken.

Note my comment on another recent split with a new CUSIP involved. I encourage Quicken users to be proactive in such situations.

https://community.quicken.com/discussion/7947543/comment-on-a-stock-split-event