Low price tumbles 3% on an up day?
Johnson381 
09-09-2005, 11:46 PM | Post #154705 |  12 Replies
What happened to FLPSX today? It fell hard. Only thing I can see is that among its top 10 holdings are housing but the home construction sector was up 2.73% today. Medidal equipment was down 0.34% . Semiconductors were down 0.71%. Trucking fell more than 2%, so we must have some of those stocks? I can't find the latest report on total holdings.

Any explanations?

Don

Originally posted in thread: 6394
12 Replies
drops
09-10-2005, 3:12 PM | Post #2003305
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Lots of distributions yesterday, FBALX, FRESX, FTBFX and RYTRX in my portfolio. Whenever you see an abnormally large drop -- particularly on an up day for the markets -- it's likely from a dividend and/or capital gains distribution. Unfortunately, the distribution kept me from knowing how my portfolio did on Friday, at least for now. The past two weeks have been good to my funds, which is surprising given all the gloom-and-doom you were hearing just after Hurricane Katrina hit.

Originally posted in thread: 6394
1 day delay
09-10-2005, 10:57 AM | Post #2003112
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When I log on to fidelity.com, the distributions show up in my history. Fidelity updates history at 3 a.m. the next day, so that's why you don't see some things like distributions until the next day. But the new NAV is available same day after 6 p.m. ET.

Audrey

Originally posted in thread: 6394
Since I don't have my premium membership
09-10-2005, 10:13 AM | Post #2003085
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anymore... I did not get to read M* report

but FLPSX is getting large like Magellan or Ultra (American centry).. It is hard to run a giant portfolio.

I don't seem to have the time to do enough stock picking for my entire portfolio... I just play with a few stocks. FLPSX's size could be an issue.

Most of the Financial Planners/Money Mannagers seem to do a check every quarter "to see if you are on track"... I look nearly every day. If investing in individuals (especially trading).. you'd have to do that. But when investing in mutual funds.. you'd hope you could trust them... somewhat.

I still check way too often. At least I don't pull in an out as much as before... at the wrong times!

jim

Originally posted in thread: 6394
Correction: Should be FLPSX
09-10-2005, 9:49 AM | Post #2003071
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and not FLPX.

Originally posted in thread: 6394
Everybody here watches closely?
09-10-2005, 9:47 AM | Post #2003070
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Jim,
Thanks for the explanation. For years, we didn't watch our funds closely. As a result, we held Magellan about six or seven years longer than we should have. Now that I'm trading almost every week, I check my stocks a couple times a day, and more when I'm trading. At 4 p.m., mdt, the funds' prices generally are updated and I check them to see how they did compared with my stocks and the market.

So I saw the change as soon as the updates came through, but I didn't have time to do some investigating and post until late last night. Spent some time with the Jan. semi-annual report on FLSPX this morning. Hadn't looked at it for a long time. Gosh, 1000 stocks. No way you can figure out what's going on. Wish Fidelity would print stock symbols for the stocks in its portfolios in its annual reports so I could track them better.

Interesting to see the M* analyst's cautious report on FLPX. Everyone should read it. Basically, the fund is so big that it's a mid-cap index fund, and it's not likely to beat the mid cap index funds by much in the future. So, I'm thinking I'll cash in and trade the money myself because I'm doing a heck of a lot better than FLPX, and I wouldn't pay its 0.97% fee, which is large enough to cover a ton of $5 trades on Brownco.com.

Don

Originally posted in thread: 6394
Go to your Fidelity account
09-10-2005, 9:14 AM | Post #2003058
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Portfolio Positions tab

By your investment in FLPSX you will see a "distribution posted"... click on it. It will bring up the Fidelity page overviewing the fund. At the bottom under Distribution history will be the amounts distributed. Before it says Distributions posted on your positions tab, this page will not be updated because it is not posted.


You can also look at the history for the account you hold the fund in and see the distribution. Again, it will not be visible until posted.

Try to think of it this way. They know the distribution that will be made and have to take it out of the fund prior the setting the price for the day's end (NAV). This is because the money/distribution is leaving the fund. Some is actually distributed to shareholders in cash (MMF... whatever), and some is reinvested at this new closing price. So for some of us, the amount ($) in our account only changes by the effect of the day's change because we reinvest everything. Others goes down because of distributions. For a company like Fidelity... they likley do this somewhat serially.... take the distribution out... distribute/reinvest as required.. double check... and then post. With large fund... I can see why.

But what a shocker to see such a good fund appear to fluctuate.

If this caught your attention... you watch your investments too closely... Quit acting like me! (I should quit acting like me too!)

jim

Originally posted in thread: 6394
Question on dividend
09-10-2005, 8:44 AM | Post #2003045
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I run my portfolio on both M* and Smart Money. M* shows the drop for the dat at $1.31 while Smart Money shows the drop at $.20. Do you think Smart Money has some info on the dividend? I don't understand.
Thanks. Larry

Originally posted in thread: 6394
Where do you get distribution info?
09-10-2005, 8:44 AM | Post #2003046
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I checked my account and saw distribution pending, but no numbers for thefund in general nor for my account. The first thing I thought of was a distribution and dilution, but couldn't find it. So why would the price drop before the distribution shows up in the account?

I just looked at the 1,000 stocks owned by the $37 billion fund and couldn't see a pattern of price declines that would cause such a decline. You'd think Fidelity would announce its distributions and the effects so customers don't have heart attacks, or do they? Where?

Thanks, Don.

Originally posted in thread: 6394
So did FRESX, FDGFX
09-10-2005, 8:11 AM | Post #2003031
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FRESX paid out a whopper of a distribution yesterday.

Audrey

Originally posted in thread: 6394
hopefully
09-10-2005, 5:32 AM | Post #2002981
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the same reason for the drop in FBALX and FPURX.

Originally posted in thread: 6394
FLPSX decline
09-10-2005, 12:19 AM | Post #2002956
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The fund paid a dividend today. That accounts for the drop. If you own shares in this fund you will see additional new shares added to your account on Monday.

Originally posted in thread: 6394