Fidelity Pennsylvania Municipal Money Market Fund
FPTXX
NASDAQ- -
USD
- -
- -
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
FRC
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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
- 0000880799
- Similar Companies
- Business
- Fidelity Pennsylvania Municipal Money Market Fund (FPTXX) is a tax-exempt money market mutual fund that seeks current income exempt from federal income tax and Pennsylvania personal income tax while preserving capital and maintaining liquidity. The fund invests primarily in short-term, high-quality municipal securities issued by or on behalf of the Commonwealth of Pennsylvania and its political subdivisions, including variable rate demand notes, municipal notes, commercial paper, and other money market instruments with remaining maturities of 397 days or less; it maintains a dollar-weighted average maturity of 60 days or less and an average life of 120 days or less, targeting a stable $1.00 net asset value. Offered to natural person investors through Fidelity Investments, the fund operates within the municipal money market segment, serving Pennsylvania residents seeking state and federal tax-free income from high-quality, short-term debt obligations. Incepted on August 6, 1986, the fund is managed by Fidelity Management & Research Company LLC, a subsidiary of FMR LLC, and is headquartered at 245 Summer Street in Boston, Massachusetts, with primary operations focused on U.S. investors, particularly in Pennsylvania. Geographically, it targets Pennsylvania-specific municipal issuers such as Allegheny County, Philadelphia authorities, Pennsylvania Economic Development Financing Authority, and Pennsylvania Turnpike Commission, while complying with Rule 2a-7 under the Investment Company Act of 1940. In a significant operational change, Fidelity announced in 2022 the proposed merger of the Fidelity Pennsylvania Municipal Money Market Fund, along with its Arizona, Connecticut, Michigan, and Ohio counterparts, into the Fidelity Municipal Money Market Fund (FTEXX) to enhance scale and efficiency amid challenging market conditions for state-specific muni money funds; however, the mergers failed to achieve shareholder quorum, leading the Board of Trustees to approve liquidation of the fund at the close of business on January 13, 2023. Post-liquidation, assets were distributed to shareholders, and no further offerings or revivals of FPTXX have been reported, reflecting broader industry trends of consolidating smaller state muni money market funds due to limited eligible securities supply. The fund remains listed in select databases but is defunct for new investments.