Newbie question: Selling fractional shares

Nophotosm Brokerage Account

Posted by mcc on January 26, 2009 (09:00PM)

I bought 100 shares of XYZ and initiated dividend reinvestment. Now it's time to sell and I have 122.407 shares. When I go to sell, I'm told I have to enter a whole number. What happens to the 0.407 shares? Not that it makes a big difference in a single transaction of a low prices share, but that would add up over time. TIA for help!

Posted by mikebmassey on January 26, 2009 (09:05PM)

Hi mcc,

Neal answered the question previously.  You can see the answer here:
http://community.tradeking.com/forum/topics/1430/forum_posts

Be good,
Mike

Posted by apalmer on January 26, 2009 (09:07PM)

To sell your fractional shares, round down to the next whole number. So if you had 100.45 shares of XYZ, just type in 100 shares and the .45 will also get sold, on the condition that you only have 100.45 shares. To sell fractional shares you have to be closing down your entire position in a stock at that time. For example, if you have 500.45 shares, and you type in "100" for shares to sell, you will not sell the fractional shares, in that case, for the fractional shares to be sold you would need to enter "500" in the sell amount.
Nophotosm Brokerage Account

Posted by mcc on January 26, 2009 (11:10PM)

Hey, thanks so much for the prompt reply. I have to admit that I thought that I posted this question before, but the search function did not return a "find" when I searched on fraction, fractional share, or mcc. I then went back through the posts all the way back to November, but couldn't find it there either! I concluded that I had only thought that I'd posted the question, but I see, from the link, that I did indeed post before. Thanks again!
matt

Posted by OldFart on January 27, 2009 (10:56AM)

I wish there was a better way to search Forums and Blogs, it will answer many questions. Current search functionality is well "ripe for improvements"

Posted by mikebmassey on January 27, 2009 (11:03AM)

@OldFart,

Agreed on the search piece.  We're examining how to better provide search, as we've found out it's pretty complicated.  However, look for some improvements soon.

Be good,
Mike

You must Log In to post to this forum.

Not a member? Register Now to …

  • See what other traders are doing
  • Make your own trades public
  • Share your thoughts on a trade
  • Join or start a group
  • Connect with like-minded traders