Fidelity Connecticut Municipal Money Market Fund
FCMXX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- CIK
- 0000880709
- Similar Companies
- Business
- Fidelity Connecticut Municipal Money Market Fund (FCMXX), managed by Fidelity Court Street Trust II, is a municipal money market mutual fund that seeks as high a level of current income that is exempt from federal income tax and, to the extent possible, Connecticut state personal income tax, as is consistent with the preservation of capital and liquidity. The fund normally invests at least 80% of its assets in high-quality, short-term municipal securities, including variable and fixed rate demand notes, municipal notes, tax-exempt commercial paper, and municipal repurchase agreements; it may also invest up to 20% in taxable securities such as U.S. government obligations if necessary for liquidity, and potentially more than 25% of assets in securities financing similar projects like hospitals or airports. Available to natural person investors through retail share classes transacting at a stable $1.00 net asset value, the fund targets Connecticut residents seeking tax-advantaged, low-risk cash management; it maintains compliance with SEC Rule 2a-7 requirements for money market funds, including liquidity fees or gates if needed. Established on August 29, 1989, the fund operates under Fidelity Investments, headquartered in Boston, Massachusetts, with primary focus on the Connecticut municipal bond market but drawing from broader U.S. municipal issuers. Fidelity Investments, founded in 1946, oversees the fund as part of its extensive lineup of tax-exempt money market portfolios serving national and state-specific segments. In recent developments, the fund continues to benefit from Fidelity's municipal money market enhancements amid 2024-2025 regulatory stability post-SEC reforms, with no reported mergers, acquisitions, or structural changes specific to FCMXX; assets under management stood at approximately $319 million as of latest data, supported by ongoing portfolio adjustments for yield optimization in a stable $1.00 NAV environment. Fidelity's broader municipal offerings, including state-specific peers, have seen yield improvements from higher short-term rates without share class reorganizations or new launches tied to FCMXX.