Large Price Drop of Fidelity Contrafund is due to Capital Gains Distribution

The Fidelity Contrafund (FCNTX) is a highly popular equity fund with a large-cap bias. Although large cap stocks did sell off Friday, the unproportionally large 6.69% drop in the net asset value (price) of FCNTX alarmed some investors.

fcntx

The explanation for the large price drop is that Fidelity distributed both dividends and capital gains for a number of their funds with a pay date of Monday, December 16.

The most recent dividends and the capital gains distributions for Fidelity funds are available on the following website:

https://www.fidelity.com/mutual-funds/prices-documents/distributions

Buy/sell signals for Fidelity funds are available at FidelitySignal.com 

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