Hi I just opened an account at Rydex and trade in and out of the market. When I'm out of the market I park the funds in their money market fund RYMXX. Does anybody know when (and if) they pay interest on the money market fund? Will I get interest if I switch in and out of the money market fund intermittently? The reason I ask is that I opened an account there on Dec 15th, all in the money market fund and I have no accruals to date. thanks!
Don't have account at your brokerage, but the brokerages I've used and am using normally add interest into your account on 2nd working day of the month. You should see it Jan. 3, 2007. Your statement will come few days later.
What if I held the money market fund for the first 5 days of a particular month? At the start of the next month would they pay interest for those 5 days? I assume so but just want to make sure there is no "cutoff date" or something.
You'll be credited interest for each day you held the fund... The Rydex MM fund makes distributions the last trading day of each month.