Blackstone (BX) Conversion

Geekzer
Geekzer Quicken Windows Subscription Member
in Investing (Windows)
I own shares in Blackstone. On July 1 the company converted from Partnership status to C Corp, but it kept the same ticker symbol, BX.

Merrill Lynch handled this by subtracting (removing) the old Partnership shares, then adding the C Corp shares.

Quicken apparently tried to follow the same path but failed. The removal of the partnership shares didn't affect the securities already in my account; it shows up as a separate security with a negative balance. Then the new C Corp security was added, doubling the number of shares in my Quicken account.

Any idea what I should do about this?

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Probably ask Merrill Lynch to get their programming straightened out.  I don't think it's a Quicken "failure".

    Although the symbol remained the same the important thing to understand is that it's not the same security.  It appears that the partnership units had a CUSIP of 09253U108 while the C Corp has a CUSIP of 09260D 107.  You know how sometimes a company "delists" and then some time later a completely different company comes along and uses the same ticker symbol?  This situation is something like that. 


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