Fidelity money market automatic redemptions

BillBarns · February 10

I too received two CvrShrt transactions on 2/10. One of them probably corresponds to (and should match) an XOut entered as the Fidelity side of an ACH cash transfer from the Fidelity account to a bank account. The other one is mysterious and I haven't figured out anything it corresponds to (it is about the size of something like a dividend, but the Fidelity website doesn't show any dividend or other transaction of that amount).

I have also seen on several occasions in recent months, and again today, the red flag with nothing showing in the downloaded transactions box. Typically this resolves for me by restarting Quicken - usually displaying a transaction, occasionally clearing the red flag and not displaying a transaction.

It doesn't feel to me like these two things are connected closely, if at all.

boysings · February 10

Like @bdantes and @Quick92, I just had some "CvrShrtX" transactions when I did an Update for my Fidelity accounts. Before today, it had been several months since I'd had a problem with incorrect transactions for my Fidelity accounts. In this case, the CvrShrtX transactions were all duplicates of transactions I'd already accepted. I just deleted them all.

BillBarns · February 10

Also, and separately, Fidelity Cash (reported with symbol FCASH) still isn't treated as cash. I think it always should be, and if it is made a choice as with the other Fidelity money market funds, I'm going to choose that. FCASH is money-market-like but it does not have shares.

Dan · February 10

This does look like progress to me for FZDXX. Once this is changed from CvrShrt to Sold, I think it should be fixed.

NotACPA · February 10

See this re; the CvrShrt issue

https://community.quicken.com/discussion/7971005/new-2-10-26-fidelity-core-cash-transactions-downloading-as-cover-short-sale-cvrshrt#latest

EvDob · February 10

Me too, today I downloaded lots of old CvrShrt transactions from core funds SPAXX & FDRXX as well as non-core funds FZDXX & FIGXX. Seems to me the core funds should not have transactions since I've set them to be treated as cash. The non-core funds will be good if the transaction is Sold.

qudtp · February 10

Alyssa has posted an alert about this, which we can bookmark for updates:

https://community.quicken.com/discussion/7971005/new-2-10-26-fidelity-core-cash-transactions-downloading-as-cover-short-sale-cvrshrt

Boatnmaniac · February 10

I got the cvrshrt transactions downloaded into all 9 of my Fidelity accounts this morning extending back to the beginning of 2026. In all of these transactions the security was the Core Position MMF so they should not have been downloaded at all.

I simply deleted all of those transactions so they did not get entered into the register. Then I confirmed that all of the accounts had no shares discrepancies/placeholders and the cash balances were correct. This evening when I ran OSU, again, this issue did not recur so all is good for me at this time.

bdantes · February 10

https://community.quicken.com/discussion/comment/20536964#Comment_20536964

And CvrShrt/CvrShrtX is not even right for MMFs that have been auto-redeemed — it causes a debit in the linked checking account, rather than the credit it should be.

Boatnmaniac · February 11

In one of my 9 Fidelity accounts there were 2 new CvrShrt transactions downloaded this morning. They regarded cash that was to be taken from the account's Cash Balance (i.e., Core Position MMF) to support 2 Buy transactions (of other securities) and instead were Sell transactions of that MMF.

This created a shares held imbalance (that MMF is reported in Quicken as Cash and not as held Shares) which then generated a Placeholder for that because the Sell activity created a negative shares balance in Quicken..

It also added the cash generated from the CvrShrt/Sell transaction to the account's Cash Balance when it should not have so now there was an imbalance between what Quicken reported as the Cash Balance and what Fidelity reported to Quicken as Cash Balance.

Like, yesterday, the issue was easily corrected: Delete the CvrShrt transactions. Delete the Placeholders. Then the Cash Balance could be reconciled and there are no shares held discrepancies.

Fidelity money market automatic redemptions

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