NEW YORK (

TheStreet

) -- Online brokers are likely to see a bump up in November trading volumes after retail investors clamored to buy shares of the

General Motors

(GM) - Get Report

IPO this week, and it was likely the buy-and-hold investor that bought shares.

GM stock debuted Thursday on the

New York Stock Exchange

, opening at $35 a share - $2 higher than the IPO price, which was already at the high-end of the given range. GM shares closed Friday virtually flat from its opening price of $34.19.

E*Trade Financial

(ETFC) - Get Report

said that while GM was one of its most actively traded stocks on Thursday, it was too early to know the impact on monthly daily average revenue trade (DART) metrics.

However, the company did see an increased amount of odd lot orders on Thursday, which is atypical for retail investors, an E*Trade executive said Friday.

Odd lot orders are when investors purchase less than 100 shares at a time.

"That represents the general retail public was taking their piece of GM," said Noel Dalzell, E*Trade's vice president of trading operations. It also means that the investors are buy-and-hold investors, rather than looking to make a quick profit, he adds.

TD Ameritrade

(AMTD) - Get Report

said late Thursday that

GM shares

were the top traded stock for the day.

Investors buying into GM

accounted for 7.5% of the online broker's total trades

for the day, according to an email Thursday from a TD Ameritrade spokesman.

The TD Ameritrade spokesman wouldn't elaborate on how the GM shares compared to other high volume stocks, such as

Citigroup

(C) - Get Report

, but did say the percentage was number one and "a good size," for the day.

A TD Ameritrade spokesman said trading data for Friday would not be ready before press time.

GM IPO Leaves Small Investors Behind

10 Biggest U.S. IPOs

GM IPO: Fund Managers Stick With Ford

GM's IPO was the largest in U.S. history, surpassing that of

Visa's

(V) - Get Report

IPO in 2008. According to

Dealogic

, GM's IPO is on track to become the fifth largest globally if all the overallotment was sold.

GM shares were also the top buy order for customers of

Fidelity Investments

on Thursday. Approximately 26,016 buy orders were put in for GM stock on Thursday, followed by 8,643 buy orders for

Ford

(F) - Get Report

and 2,703 buy orders for

Apple (AAPL) - Get Report

, according to the brokerage's website.

Conversely, Ford was the top stock sold by Fidelity customers on Thursday, with 3,272 sell orders put in by customers. Approximately, 2,556 sell orders for GM were put in by Fidelity customers on Thursday, according to the website.

Fidelity has 12.4 million customer brokerage accounts, the company says.

While a Fidelity spokesman says the company does not comment on trading in specific stocks, the brokerage firm was one of few retail firms that had access to GM 's IPO before the shares started trading in the open market. That's because the Boston-based firm has a relationship with one of the IPO's underwriters,

Deutsche Bank

(DB) - Get Report

, to give some Fidelity retail customers as well as its advisors and brokers the opportunity to participate in IPOs, a spokesman said.

To get in on the IPO action, Fidelity customers are required to hold at least $500,000 with the firm or trade a minimum of 36 times a year. Additionally, likely to dissuade customers from jumping in and out of the stock, if an investor sold the IPO share 15 days later, they would be restricted from participating in a future IPO for 180 days. Do it twice and Fidelity says the customer would be restricted for one year.

Fidelity also has a similar arrangement with private equity behemoth,

KKR

(KKR) - Get Report

, the spokesman said.

A

Charles Schwab

(SCHW) - Get Report

spokesman did not return requests for trading information.

-- Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski

.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.