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Universal Display Corp. Message Board

  • zinneke1 zinneke1 Jun 18, 2012 9:39 AM Flag

    A friend at Fidelity? Hardly!

    If you have an account with Fidelity, you might contact your rep and make sure Fidelity is not selling your investment short (the way it has PANL). This is a poor business practice that undermines investor confidence.

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    • Keep after Fidelity and Vanguard -- that is not the kind of publicity they need. As the supply of available shares drops, the stock will rebound to the price level it deserves -- in the 50s. Let's also hope PANL management doesn't blow the upcoming press conference. This would be a great time for a positive announcement.

    • Well that is where I start as well... but it doesn't actually tell me how many they have are currently "non-voting" aka lent out...or I should say at the last reported quarter. So I have to look each one up to see what they are up to on the SEC db. Wouldn't it be nice if nasdaq did this for us...

    • Guys Fidelity is the 2nd biggest holder of PANL stock with 12.7% of shares outstanding. Even if fidelity stopped lending out their stock to shorts - which they will never do - there is ample supply from other sources. I think the practice should be banned as it does seem to be against the interest of the individual investors who invest in Fidelity's funds, but until the industry as a whole stops doing it there is no incentive for Fidelity to stop as well - just lowers their profit margins.

      • 1 Reply to lovebeach999
      • actually other than Fid/Vang there is really not much in the homework yourself if you want... its all reported to the SEC and FINRA...start with total # of shares short and start pouring over reports to the SEC to find the sources of the short shares("non voting shares") and quickly you will conclude its nearly all Fid/Vang...
        3/31/02 : FMR 5,918,386 non -voting : 5892486 %: 99.56
        Vang: 2,102,130 non-voting: 2047396 %: 97.40%
        Wellington : 1,953,615 non-voting: 439195 %: 22.48%
        at end of march these 3 were 8/11 million shares short... the rest may not be from funds much at all the rest could be margin positions by unwitting long shareholders(yes a few of them may actually have bought panl on margin...)

        Other than wellington as well but I defy you to find other significant sources of shares available to lend out... the good news is that other than Wellington...the willing securities lenders are nearly "tapped out"...
        Note new data will emerge at end of June...should be interesting...
        I haven't compiled a list of significant lenders beyond the big 3 yet...

    • Fidelity is going to get theirs one way or another. If you own their lousy mutual funds they'll slice a percent a year and if the market is flat for 20 years you give them 20%+ of your retirement for no performance. And you'll like it too when they trumpet how they outperformed their indexes. If you own stocks to avoid the rotten funds they will lend out the same shares others own and collect their percentage that way and stick you with an underperforming stock for an unbearable amount of time until you give up and run back to their rotten funds. We are slaves to them. Individualosm, patience and bullheadedness and a willingneas to fight back and buy the dips is the only way to win and even that isn't a guarantee.

    • I would go so far and suggest that a fidelity mutual fund holder should be writing letters to their respective mutual fund managers and company to stop their securities lending program. Fid/Vang have lent out nearly all of the short interest in opposition to their duty to preserve their clients capital. I consider it imprudent and a breach of fiduciary responsibility. Class actions by mutual fund holders come to mind but a simple petition could get the ball rolling.

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