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Fidelity Magellan dips 5% today
Old 05-04-2007, 08:05 PM   #1
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Fidelity Magellan dips 5% today

Ok, I know I should have pulled out of this a long time ago, I'm a procrastinator. But can anyone tell me why this would happen? Generally FMAGX is a lumbering behemoth that doesn't do anything quickly....
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Re: Fidelity Magellan dips 5% today
Old 05-04-2007, 08:08 PM   #2
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Re: Fidelity Magellan dips 5% today

Paid a dividend?
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Re: Fidelity Magellan dips 5% today
Old 05-04-2007, 08:08 PM   #3
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Re: Fidelity Magellan dips 5% today

Yes or capital gains. They pay in May and Dec. YTD 8.51 isnt that bad
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Re: Fidelity Magellan dips 5% today
Old 05-04-2007, 08:11 PM   #4
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Re: Fidelity Magellan dips 5% today

Yep, here ya go...

http://personal.fidelity.com/product...efhp=pr&ut=B10

It'll mostly come back when the dividend is reinvested by most folks on monday or tuesday.

Hmm, in their divine wisdom, fidelity appears to have prevented direct linking to articles on their fund news, so here it is, likely in violation of some copyright law. They may sue me.

"On Monday, May 7, the Fidelity Magellan fund will pay a distribution to shareholders of $5.28. On Friday, May 4, the fund's ex-dividend date, shareholders of record will notice that the distribution was deducted from the fund's net asset value (NAV) and the NAV at the close of the market Friday was substantially different from the NAV on the preceding day. This is normal.

The Fund's NAV closed at $97.14 on Thursday May 3. As of 4:00 pm on May 4, Fidelity Magellan Fund's NAV will reflect a drop of $5.28 (or 5.5% of the NAV).

On Monday, May 7, the fund will pay a distribution to shareholders of $0.10 per share in dividends and $5.18 per share in long-term capital gains, for a total of $5.28. It's important to keep in mind, however, that distributions do not affect total return. Although the NAV of the fund drops when a distribution is declared, shareholders will either have their proceeds reinvested in additional shares of the fund or they will receive the value of the distribution in cash according to standing instructions they have previously communicated to Fidelity.

Shareholders are required to pay taxes on mutual fund distributions unless the mutual funds are held in tax-advantaged accounts such as Individual Retirement Accounts (IRAs) and group retirement accounts such as 401(k) and 403(b) accounts whether the distributions are paid out in cash or reinvested in additional shares.

The vast majority of the assets in Magellan Fund are held in tax-advantaged retirement accounts. Shareholders who own the funds in these types of accounts pay taxes, if any, on fund distributions only when money is withdrawn from the account in most cases, well into the future.

More information about the Fidelity Magellan Fund is available at the link below."
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Re: Fidelity Magellan dips 5% today
Old 05-04-2007, 08:52 PM   #5
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Re: Fidelity Magellan dips 5% today

WHEW! Thank you! I was freaking out.

I have got to quit relying on Yahoo finance. Their news page for Magellan had nothing about this on it.


You guys are so helpful. Thanks!
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Re: Fidelity Magellan dips 5% today
Old 05-04-2007, 10:15 PM   #6
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by Sheryl
WHEW! Thank you! I was freaking out.

I have got to quit relying on Yahoo finance. Their news page for Magellan had nothing about this on it.


You guys are so helpful. Thanks!
Sheryl.... if a big fund like this is every different than the market... think dividend FIRST... there is no way that a big fund can do anywhere near that bad in one day if the market is basically flat...
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Re: Fidelity Magellan dips 5% today
Old 05-05-2007, 11:12 AM   #7
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by Texas Proud
Sheryl.... if a big fund like this is every different than the market... think dividend FIRST... there is no way that a big fund can do anywhere near that bad in one day if the market is basically flat...
I know. I should have known that. Now I am happy.

I have been stewing about the dent in the stash that was made when I bought the new car last month. It's already back up to that point and beyond. Free car - whoopie!



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Re: Fidelity Magellan dips 5% today
Old 05-05-2007, 05:06 PM   #8
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by Sheryl
I have got to quit relying on Yahoo finance. Their news page for Magellan had nothing about this on it.
It's a good thing you came here first. If you'd asked that question on FundAlarm.com you would have had to buy the entire board boxes of doughnuts...
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Re: Fidelity Magellan dips 5% today
Old 05-05-2007, 05:35 PM   #9
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by Nords
It's a good thing you came here first. If you'd asked that question on FundAlarm.com you would have had to buy the entire board boxes of doughnuts...
Man I was hoping for donuts too..
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Re: Fidelity Magellan dips 5% today
Old 05-06-2007, 11:03 AM   #10
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by Nords
It's a good thing you came here first. If you'd asked that question on FundAlarm.com you would have had to buy the entire board boxes of doughnuts...
I knew I could trust you guys to be gentle with me.

But I appreciate the advice. Here's the best I can do on the donuts:

http://www.couponpages.com/local/1999-05/dunk-004.asp

http://www.donutconnection.com/NewFiles/coup.html

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Re: Fidelity Magellan dips 5% today
Old 05-06-2007, 06:20 PM   #11
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Re: Fidelity Magellan dips 5% today

I was salivating, then saw the fine print: "Dunkin' Donuts, Elmwood Park NJ & Garfield NJ Locations Only"
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Re: Fidelity Magellan dips 5% today
Old 05-06-2007, 06:31 PM   #12
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Re: Fidelity Magellan dips 5% today

Quote:
Originally Posted by TromboneAl
I was salivating, then saw the fine print: "Dunkin' Donuts, Elmwood Park NJ & Garfield NJ Locations Only"
And: "(Offer Expires 5/31/2000)"
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Re: Fidelity Magellan dips 5% today
Old 05-07-2007, 03:57 AM   #13
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Re: Fidelity Magellan dips 5% today

Nothing like paying a large fee and taking a loss.

I had that fund in a 401k at one time... dumped it. Might as well own a LC index! It basically track the S&P in recent history... except for a few deviations (like the most recent one).
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