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Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 04:52 PM   #1
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Fidelity Contrafund sharp drop after Christmas 2006

Anyone here follows FCNTX? I was perusing its chart for last year. There was a sharp drop. Close price was 70.68 on Dec 21, last trading day before xmas. Close price on next trading day, Dec 26 was 64.95, or 8% drop! No wonder it ended 2006 below SP500.

Any idea?
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 04:58 PM   #2
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Re: Fidelity Contrafund sharp drop after Christmas 2006

Well, it's worth asking...

Was there a capital gains distribution on Dec 21 ??
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 05:01 PM   #3
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Re: Fidelity Contrafund sharp drop after Christmas 2006

So I looked it up...

Fidelity Contrafund paid a $5.21 per share capital gains distribution on 12/22/06.

There was also a $0.39 income distribution.

Since the share price was around $70.34 a share before the distribution, I calculate that the income and capital gains account for 7.96% of the share price

here's a link to their distribution history:

http://personal.fidelity.com/product...html?316071109
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 05:04 PM   #4
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Re: Fidelity Contrafund sharp drop after Christmas 2006

Thanks MasterBlaster. I should have thought of that.
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 05:08 PM   #5
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Re: Fidelity Contrafund sharp drop after Christmas 2006

your first thought on seeing an out-of-synch price drop should always be: possible distribution.
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 05:55 PM   #6
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Re: Fidelity Contrafund sharp drop after Christmas 2006

The only free site I know of that has nice comparison charts with data that includes distributions (most of the time):

http://stockcharts.com/charts/perfor...erf.html?FCNTX

It takes a while for new distributions to make their way into the data, but FCNTX looks good.

A price-only chart seems less than worthless. It's amazing how hard it is to get good data.

Dan
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 06:44 PM   #7
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Re: Fidelity Contrafund sharp drop after Christmas 2006

Got me too when one of my funds had a distribution that I overlooked. My face was so red when I figured out what happened...

Hey, at least it shows we are checking balances from time to time, right?
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 08:39 PM   #8
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Re: Fidelity Contrafund sharp drop after Christmas 2006

Did the same thing (distribution) happen to Wellington?
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-20-2007, 10:03 PM   #9
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Re: Fidelity Contrafund sharp drop after Christmas 2006

I've got some of my 401k in Fidelity Contrafund and have been very pleased with that. I don't pay attention to the daily stuff so much as watching the numbers increase over time.
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Re: Fidelity Contrafund sharp drop after Christmas 2006
Old 02-21-2007, 08:51 AM   #10
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Re: Fidelity Contrafund sharp drop after Christmas 2006

Quote:
Originally Posted by Capt Curmudgeon
Did the same thing (distribution) happen to Wellington?
Wellington paid income, as well as short term and long term capital gains distributions on Dec 22nd.

here's a link to the info...

Since the funds are listed alphabetically, Wellington is towards the bottom of the page

https://flagship.vanguard.com/VGApp/...type=PIWANTTO2
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