Fidelity FXAIX not updating?

[FicoMike0]

I generally find that fidelity moves funds wid  a quickness. They don't have the new same day ach, but few banks do. Like most banks, they advertise 1-3 days, but they usually beat that. When I move funds to fidelity, they are available to invest the next day, "settled" and available to withdraw in two days.

I realize they're not a bank, but I use their accounts as my primary checking. The cma pays 2.69% and the bloom pays 4.99% on cash balance.

[TrapLine]

Your findings would work well for me. Maybe I am too new?

Sure like all the various features of the accounts. However, the holds have been totally unacceptable. For now I use other financials. We will see if time shrinks the ridiculous holds?

[keekers]

Not sure what holds you are experiencing; I've never had an issue with Fidelity.

[Anonymalous]

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@Beast26 wrote:

So the customer service rep told me that because it was a dividend payout day that I got the dividend reinvested and something along the lines of the original share price is cut in half or something on the day they pay out dividends.

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Just some general stuff you might find useful, since you're new to investing.

A stock split might reduce the original share price in half, but a dividend just reduces the share price by a small amount. This is typically in proportion to the size of the dividend and the share price, i.e. if they have shares worth $10 each, and give out a dividend of $1 for each share, expect the market price to drop to $9/share (this can be affected by the ex-dividend date). If you have a broad based index fund like FKAIX, don't expect a lot of dividends. And funds skewed toward growth, like FTEC, will also tend to have modest dividends.

Also, look at your screenshots. FTEC is an ETF and shows a fractional number of shares, but Fidelity doesn't allow the direct purchase of fractional shares. But they do allow dividends to be reinvested as fractional shares. So that's likely happened. Go to Activity & Orders, that's where Fidelity shows dividends. When you have reinvestment set up, you'll see a "dividend received" entry showing a positive dollar amount, followed by a "reinvestment" entry showing the same dollar amount, except negative. You can expand it to see the number of shares you received.

This is different from mutual funds, like FXAIX, where you can buy fractional shares directly. Mutual funds are also priced only once a day, based on the end of market value of all the assets held in the fund. Which can take a while.

[TrapLine]

The holds relate to moving money from another financial to Fideltiy Investments. They have been 10 to 14 days minimum every time. We are talking $1000 to $5000. Not some huge dollar amounts.

Interesting enough, my other financials show the money gone and Fidelity shows they have it and it is fully available for trade but not cash withdrawal. Wonder if it is a marketing tool to encourage investment?

At this time I moved them on to we shall go very slowly as I am not a happy investor. Possibly with time all this will change. In reading other sources I find this is not unusual and I can only suspect it is the new accounts. This may be very true. Did I need to pull money out? No was just desirous of knowing I had flex if needed.

Back in time Fidelity Investments had the Fidelity Magellan Fund which was so hot they had to close it to new money as they could not find places they wanted put new money that met their requirements. They were amazing and they certainly have a deep rich history on investing.

In my recent past it was about Real Estate and have since liquidated same and wanted to move back to investing. It has been a long time and I need to get my head back into it.

[keekers]

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@Anonymalous wrote:

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Also, look at your screenshots. FTEC is an ETF and shows a fractional number of shares, but Fidelity doesn't allow the direct purchase of fractional shares. But they do allow dividends to be reinvested as fractional shares. So that's likely happened. Go to Activity & Orders, that's where Fidelity shows dividends. When you have reinvestment set up, you'll see a "dividend received" entry showing a positive dollar amount, followed by a "reinvestment" entry showing the same dollar amount, except negative. You can expand it to see the number of shares you received.

Actually, Fidelity does allow the purchase of fractional ETF shares.

[keekers]

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@TrapLine wrote:

The holds relate to moving money from another financial to Fideltiy Investments. They have been 10 to 14 days minimum every time. We are talking $1000 to $5000. Not some huge dollar amounts.

Interesting enough, my other financials show the money gone and Fidelity shows they have it and it is fully available for trade but not cash withdrawal. Wonder if it is a marketing tool to encourage investment?

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Strange, I haven't experienced any sort of holds on my funds being transferred across institutions and Fidelity, to include amounts greater than the amounts you listed.  And it's not a marketing tool to encourage investment but rather likely a courtesy.  If something gets hosed with the funds they can claw back through the investments but if withdrawn then they would not be able to easily.

[Anonymalous]

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@keekers wrote:

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@Anonymalous wrote:

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Also, look at your screenshots. FTEC is an ETF and shows a fractional number of shares, but Fidelity doesn't allow the direct purchase of fractional shares. But they do allow dividends to be reinvested as fractional shares. So that's likely happened. Go to Activity & Orders, that's where Fidelity shows dividends. When you have reinvestment set up, you'll see a "dividend received" entry showing a positive dollar amount, followed by a "reinvestment" entry showing the same dollar amount, except negative. You can expand it to see the number of shares you received.

Actually, Fidelity does allow the purchase of fractional ETF shares.

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Good catch. Looks like they added it 4 years ago, and I somehow missed the announcement.

But after playing around a bit, I can see why I never noticed it. I had to click on the"simplified ticket" to see the option to purchase a dollar amount, instead of a number of shares. I never would have guessed the simplified version has a feature the expanded version lacks.