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The drop in price, between May 28th ($10.17) and May 29th ($10.14) can be attributed largely to the 3.73 cent dividend paid on May 29th. The much larger drop in NAV of 7 cents (twice the distribution size) between June 1st and 2nd may be attributable strictly to market forces.
FundStudent didn't say it, but the chart posted is from M*, so it is a total return chart that already took the distribution into account (M* assumes all dividends are reinvested).
You can verify this from the fact that the NAV dropped between May 28th and May 29th, but the chart shows an increase in total return, because the market (or at least the part that this fund was invested in) went up that day.
Comments
https://fundresearch.fidelity.com/mutual-funds/fees-and-prices/00766Y414
http://finance.yahoo.com/q/hp?s=FCFAX+Historical+Prices
The drop in price, between May 28th ($10.17) and May 29th ($10.14) can be attributed largely to the 3.73 cent dividend paid on May 29th. The much larger drop in NAV of 7 cents (twice the distribution size) between June 1st and 2nd may be attributable strictly to market forces.
FundStudent didn't say it, but the chart posted is from M*, so it is a total return chart that already took the distribution into account (M* assumes all dividends are reinvested).
You can verify this from the fact that the NAV dropped between May 28th and May 29th, but the chart shows an increase in total return, because the market (or at least the part that this fund was invested in) went up that day.