Jeffrey D. Oldham
1997 December 13
Yesterday evening, Amit Patel wrote
I've had my eye on [Fidelity Select Electronics] for almost a year now because it's been ranked at the top for three years. Today it dropped 21%.... Twenty-one percent in a single day seems way too high for a mutual fund.
How does this ``distributions'' thing work? Would that be done at this time of year?
Yes, a twenty-one percent drop in one day is quite a large drop, especially considering the technology-laden NASDAQ market dropped only 1.41%. Mr. Patel gave the right clue when he asked about ``distributions.''
Visiting the Fidelity Investments WWW
and following the appropriate links,
we read that Fidelity Select Electronics declared distributions of
$6.95 with a record date of 12 December.