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Can I avoid the tax consequences if I sell my shares before the recording date ?

If this is in a "tax favored" account (401(k), 403(b), traditional IRA, Roth IRA, or the like), there are no tax consequences and you might as well hold on to the fund unless you have other reasons for selling it.

If it is in a regular (taxable) account, there will be a tax consequence if you sell before the date of record: you will have realized losses. (I am assuming from the tone of the message that the NAV of the fund had gone down.) However, if you wish to get back in to the fund after the ex-dividend date, you will have to wait 31 days from the date sold or it will be considered a "wash sale" (you won't be able to reduce your taxable income by declairing capital losses).
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