YESTERDAY I PUT ABOUT 30% OF MONEY AVAILABLE FOR INVESTING INTO THREE FIDELITY FUNDS THAT HAS BEEN SITTING IN THE FID. MONEY MKT. FUND (SYMBOL:SPRXX) THAT WAS PAYING 1.25%—-AND GETTING TO BE LESS AND LESS DAILY.
HERE THEY ARE:
FID. GINNIE MAE/ FGMXX: 30 DAY YIELD OF 4.94%
FID. NEW YORK MUNI INCOME/FTFMX: 30 DAY YIELD OF 4.09%
FID. HIGH INCOME/SPHIX: 30 DAY YIELD OF 11.25%.
THESE MOVES WERE TO INCREASE YIELD ON CASH WITHOUT MUCH DOWNSIDE RISK, THUS I SPREAD THE BUY INTO THREE LARGE FUNDS ALL OF WHICH ARE YIELDING MORE THAN THE 1.25% I WAS GETTING IN THE MONEY MARKET FUND.
I CONTINUE TO PARK AN ENORMOUS AMOUNT OF CASH IN TWO FID. FUNDS:
CASH RESERVES/FDRXX WITH A 7 DAY YIELD OF 1.19%, AND
FID. MONEY MARKET/SPRXX WITH A 7 DAY YIELD OF 1.25%.
I HAVE A MAJOR POSITION IN TWO OTHER FUNDS AT FIDELITY:
FID. CONVERTIBLE SECURITIES/FCVSX: DOWN 43% SINCE I BOUGHT IT LAST JULY/AUG/SEPT.
AND FID. LEVERAGED COMPANY SOTCK/FLVCX: DOWN 51% SINCE I BOUGHT IT LAST JULY/AUG/SEPT.
I WILL CONTINUE TO HOLD THESE FUNDS
