Does anyone know why FJPNX dropped over 10% recently?

FJPNX is a Fidelity Mutual Fund that invests in Japanese Stocks. It recently dropped over 10% and I can't find any informtaion on why? The Japanese Indexes don't show similar changes, so I'm confused about what happened.

Andy's theory is correct. The fund paid a distribution on December 7. According to Fidelity's web site, it was scheduled to be $2.43 per share. Depending on whether you reinvest your dividends, you either received $2.43 per share in cash to your account or you received it in new shares. The price per share drops by the amount of the distribition per share that you receive. When you factor in the value of the distributions, the value of your holdings hasn't dropped at all.

If you have the account directly with Fidelity (as opposed to a broker or another mutual fund company that also sells Fidelity funds), just log onto your account at Fidelity's website and check the account history and the current balance. You'll see how it works.

The fund has been in a trading range between $16 and $14 a share since the end of last year. Check your statement -- chances are the change in the fund price was a capital gains distribution. The price drops because of the distribution but if you're reinvesting dividends and capital gains, you end up with more shares, so the only real difference is tax status.

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