Another Unidentified Security Question

Pat Sills

I have an unidentified security as the result of a partial redemption of preferred stock. The unidentified security has negative shares and a negative value that is screwing everything up. The transaction has settled at my brokerage and I want to delete the unidentified security position, but I am not allowed to as Quicken refuses to delete because this bogus security has been used in a transaction. How can I force a deletion? Thanks, Ken

Pat Sills

Also, The Unidentified Security position is negative 110 shares. Tried to just offset this by buying 110 shares, but cannot because Quicken refuses to identify Unidentified Security as a valid stock symbol.

Tom Young

I think it would be very helpful to know the name of the issuer of the preferred stock, as well as details of the "redemption."

Ordinarily a "redemption" event would be understood to mean receiving cash for the security redeemed, but the fact that somehow an "unidentified security" resulted from that redemption it doesn't sound like the transaction was settled in cash.

It would also be helpful to know "who" made the entry or entries surrounding this redemption: were the transactions downloaded into the Account, or did you make the entries. In either case, what did these entries look like in the Transaction List? A screen shot of those entries would be great.

Pat Sills

VIA Renewables.pdf

VIA Renewables 2.pdf

Tom, your questions have helped me a lot.

In the first screenshot, on May 13, I downloaded two transactions from Merrill Lynch that added 110sh of VIASP and then removed 110sh of unidentified security. I knew a redemption was scheduled and did not attempt any manual adjustments.

In the second screenshot, on June 9, I downloaded two transactions from Merrill that redeemed 110sh of VIASP and paid me a small amount of accrued interest on the 110 shares.

I waited several days to see if any more transactions were forthcoming as the redemption transaction settled.

Then in the second screenshot around June 12 I made manual adjustments to get my Quicken reconciled with reality but could not delete the "unidentified security" in my holdings.

Can I simply delete the initial unidentified security transaction?

Ken

Pat Sills

VIA Renewables 3.pdf

Screen shot 3 is my Merrill Lynch transaction log. You can see the 110 shares of VIASP were removed and 110 shares of a numerical asset were added. Quicken didn't accept the numerical identity and instead labelled it unidentified security.

ken

Tom Young

It appears that the event is described here:

https://viarenewables.com/press-releases/via-renewables-announces-a-redemption-of-168008-shares-of-its-8-75-series-a-fixed-to-floating-rate-cumulative-redeemable-perpetual-preferred-stock/

and starts with this:

and that's the extent of my research at this point.

As I read it it sounds to me like a sale of some shares of the Preferred for $25.00 per share and, separately payment of some amount of interest on the Preferred to the point of sale. If I'm correct then I'd say the proper recording would be a Sold Action for the 110 shares for $25.00 (with some possible gain or loss on the sale) and also an IntInc Action for the interest received.

I know that sometimes when securities are being called or redeemed those particular securities get renamed in some fashion and I expect that the 5/13/25 picture is something associated with that event, though the signs of the transactions seem backwards in Quicken, while the ML log looks accurate to me: 110 of your original Preferred were "renamed" to that "partial call" security, and eventually sold.

If you simply deleted the downloaded transactions (and maybe hid that Unidentified Security) and then simply sold the actual Preferreds that were called away, would that make your Quicken holdings match ML? If "yes" then you should be able to do exactly that. If "no" then tell me where things go wrong.

Pat Sills

Thanks! That worked!