Merger of two Nuveen ETF's in the same account (edit)

DWW1945

In November, 2019, Nuveen decided to merge two ETFs, Nuveen Preferred and Income Sec ETF (JPS) into Nuveen Preferred Income (JPC). Now, there are two positions as the JPS fund was not removed in the subsequent downloads from Schwab. How do I remove the JPS position? I am using Windows 10 and Quicken R56.9

DWW1945

Correction: Sorry, it was November 2023.

NotACPA

How about going back and doing a 1:1 "Corporate Acquisition" by JPC of the other two? Or a "Mutual Fund Conversion"?

DWW1945

Thank you for the suggestions. I really have no idea how to do the things you suggested, and I have no idea what the ramifications are of doing so. My current thought is to delete the account and reinstall it via a download from Schwab. I realize the histories of all securities in the account will be lost, but that is OK with me as I depend on the Schwab 1099's and other notices I receive. Additionally, another item I have yet to tackle is the cost basis data is missing on several of the securities in two accounts I have with Schwab. I will tackle that when I get this issue cleared up.

Jim_Harman

I would strongly recommend against deleting the account, because that would be likely to cause more serious problems than you have now. For example, if you delete the account any transfers to or from other accounts will be broken.

We can provide step by step instructions on how to correct this problem if you provide more details on what transactions are currently in your account for these securities starting with the date of the merger. You don't need to provide the share quantities.

[edit to add]

For those interested in this situation, the announcement is here

https://documents.nuveen.com/Documents/Nuveen/Default.aspx?uniqueId=7231071b-360f-4868-91f2-e0b615fbc295

JPT and JPS were merged into JPC. Which of these did you hold prior to the merger?

What you should see is something like this, assuming you held both JPT and JPS prior to the merger, and had only made one purchase of each and no reinvested dividends.

1. 11/6/23 Remove JPT
2. 11/6/23 Remove JPS
3. 11/6/23 Add JPC with acquisition date and cost corresponding to your JPT and JPS holdings
4. 12/1/23 Div JPC (might be 2 Divs)
5. Any further distributions should be for JPC.

NotACPA

Which Q product are you running, and what BUILD of that product? This info is at HELP, About Quicken.

DWW1945

I am using Windows 10 and Quicken R56.9

DWW1945

Quicken Version R56.9;

Build 27.1.56.9

DWW1945

Only involves JPS into JPC

NotACPA

OK, but which PRODUCT? They don't all have the same features re: investment accounts.. Starter, Deluxe, etc.

Ps56k2

https://community.quicken.com/discussion/comment/20432356#Comment_20432356

the OP already has the ETFs in their downloaded Schwab account - so Quicken has Investments -

there are two positions as the JPS fund was not removed in the subsequent downloads from Schwab. 

NotACPA

@Ps56k2 But do they all have "Corporate Acquisition" or "Mutual Fund Conversion"? OP still needs to answer.

DWW1945

Data from Schwab website:

Date	Action	Symbol	Description	Quantity	Price	Fees & Comm	$ Amount
5/1/2024	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	33.2894	$7.10		($236.22)
5/1/2024	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$236.22
4/30/2024	Shares added	JPC	NUVEEN PREFERRED INCOME	4,840
4/30/2024	Removed	JPS	NUVEEN PREF AND INC SEC	4894.9173
4/2/2024	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	32.8424	$7.15		($234.66)
4/1/2024	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$234.66
3/4/2024	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	32.6744	$7.13		($233.10)
3/1/2024	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$233.10
2/2/2024	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	31.7913	$7.28		($231.59)
2/1/2024	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$231.59
1/2/2024	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	34.1123	$6.74		($229.97)
12/29/2023	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$229.97
12/6/2023	Reinvest Shares	JPC	NUVEEN PREFERRED INCOME	1.535	$6.62		($10.16)
12/05/2023 as of 12/01/2023	Reinvest Dividend	JPC	NUVEEN PREFERRED INCOME				$10.16
12/1/2023	Dividend	JPS	NUVEEN PREF AND INC SEC				$175.73
11/8/2023	Cash In Lieu	JPC	NUVEEN PREFERRED INCOME				$2.95
11/7/2023	Stock Merger	JPC	NUVEEN PREFERRED INCOME	4,840

DWW1945

It is interesting that there is no activity in Quicken concerning the JPS shares being removed as is listed above.

DWW1945

Being no further discussion nor suggestions, I am tempted to just enter a "removed" transaction. Anybody have any thoughts about such?

q_lurker

Removed sounds to me like what should have been entered in the first place.

DWW1945

I agree with you. The transaction information above listing transactions came from Schwab. I download directly from Schwab. I am at a loss to figure out why the above JPS transaction dated 4/30/2024 was not downloaded. Yet. the transaction adding the new shares of JPC were downloaded, on the same date.