Shares Added After Reverse Stock Split

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R Strax
R Strax Member ✭✭✭
edited May 2022 in Registers & Transactions (Mac)
My VXX stock recently reverse split, 125.281 to 31. The reverse split has been accurately added into my transaction register using the stock split wizard. However, after the split the portfolio has inexplicably added an extra 7.670756 shares to the 31 I should have had after the split.

The Quicken portfolio shows a missing cost basis for the inexplicable 7.670756 shares, and when I click on "add" under cost basis, Quicken says there are 31 shares unaccounted for. Of course these 31 shares are accounted for in the stock split wizard.

I have no idea where the extra 7.670756 shares came from. I don't understand why Quicken does not know I now have 31 shares after the entered stock split. Is there a way to correct this seemingly crazy situation? I'm sure this is somehow my fault, Quicken is certainly acting logically, but I don't have a clue where the problem lies.

Thank you for any help you can provide. I must say I wish the stock split wizard was a little more comprehensive and intuitive.

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited May 2021 Answer ✓
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    Sorry, but at this point, a QMac user is going to need to chime in.  Since I run QWin, I can't test this myself.
    And, it looks to me like you've got 8.07025 too many shares.  How did you arrive at the 7.670756 figure? OR the 7.75 figure?  You should have, from the split, 31 shares ... and you're showing 39.07025.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    This was a 1 for 4 reverse split.
    Because 125.281/4 would equal 31.32085 shares.  Since cash was paid in lieu of fractional shares,  did you receive some amount of cash also?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • R Strax
    R Strax Member ✭✭✭
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    Thank you.

    I did receive a cash-in-lieu payment, and that is accounted for in my transactions. However, instead of showing 31 shares after the split, for some reason Quicken has added in this odd number (7.670756) of extra shares. I don't know where this comes from, I can't delete the shares, and can't see how to resolve the discrepency.
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    Can you please take a snapshot of the split transaction, and paste it here?  Something might show-up.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • R Strax
    R Strax Member ✭✭✭
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    This is the split wizard, and the portfolio view showing the extra 7.75 shares from apparently nowhere. The other shares accurately reflect my original purchase before the reverse split.







  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited May 2021 Answer ✓
    Options
    Sorry, but at this point, a QMac user is going to need to chime in.  Since I run QWin, I can't test this myself.
    And, it looks to me like you've got 8.07025 too many shares.  How did you arrive at the 7.670756 figure? OR the 7.75 figure?  You should have, from the split, 31 shares ... and you're showing 39.07025.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • R Strax
    R Strax Member ✭✭✭
    Options
    Fixed this by "selling" the 7.75 shares I never had. The register is now reconciled, but getting and selling phantom shares seems like weird bookkeeping that shouldn't be necessary in Quicken.
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