Negative MM Dividend?

[Midpack]

I didn't know it was possible, but my last VMMXX dividend was -$149. I just transferred all our VMMXX to online savings at another institution for much better yield - so I assumed I might forfeit the May dividend, but negative? Never seen that in my life.

[edit: see screen grab in post #8 below]

 

[brokrken]

Wow, I've also never seen, nor heard of that. Need to go check mine, now

 

[corn18]

That doesn't jive with anything. Their NAV has not dropped below 1.000. Their 7 day SEC yield is 0.29% right now and that hasn't gone negative, ever.

 

[audreyh1]

A fee?

 

[SecondCor521]

My Dad owns VMMXX in one of his accounts. He got paid a positive (albeit very small) amount on 5/29. If I do the math the simple way it comes out to be a tad under a 0.42% yield.

Agree with @audreyh1 that it was probably a fee of some kind. I'd guess that it's a transfer / close out fee or similar.

ETA: Did you hold VMMXX at Vanguard, or another brokerage?

 

[RunningBum]

Are you sure? For 5/31, I see a dividend with a positive amount, and a reinvestment with a negative amount. Are you confusing the dividend with the reinvestment? The + and - transactions net out to 0 for my account cash balance.

 

[bloom2708]

Transfer fee or account close fee? Yields aren't negative...yet.

 

[Midpack]

A fee?

ETA: Did you hold VMMXX at Vanguard, or another brokerage?

Are you sure? For 5/31, I see a dividend with a positive amount, and a reinvestment with a negative amount. Are you confusing the dividend with the reinvestment? The + and - transactions net out to 0 for my account cash balance.

Transfer fee or account close fee? Yields aren't negative...yet.

It was held at VG and there's no indication it was a fee, it shows up just like previous dividends - only negative. And I just looked at the fee schedule and there aren't any fees listed for redemption or anything else. I did not close the account, just sold off VMMXX.

But I notice (now) that the transfer out occurred on the same day, so maybe I got a dividend (not shown) and the dividend shown is backing it out? Funny way to show the transaction IMO.

I’ll probably email my VG rep and ask just to understand what happened.

 

[pb4uski]

I don't own VMMXX anymore since the yields are pathetic, but their website indicates that the May distribution was +0.41%

Looks like you had a sale going on?

 

[Midpack]

I emailed VG and with their answer, I should clarify.

I transferred everything from my VMMXX to (not VG) online savings on 5/29. VG paid me a prorated dividend on 5/29 as well, and transferred that to my online savings account at the same time. So I got a + dividend from VG, it was just sent to my online savings the same day, so it shows negative WRT VG.

All's well. Apologies for not realizing what I was seeing...