Retail investors eased back into the market in October, according to online broker
, which said Friday that average daily trading volume picked up 7% in the month from September.
Meanwhile, new account openings also picked up pace, with Ameritrade adding 42,000 in October, compared with 32,000 new accounts the previous month. As of Sept. 30, the company had 1,233,000 accounts. Ameritrade wasn't immediately available to comment on its current total.
Omaha-based Ameritrade, reporting monthly trades and accounts for the first time, said average daily trades reached 115,000 in October, up from 107,000 in September and 57,000 in October 1999. The figures include trades at both The online brokerage and its clearing unit, which executes trades for both Ameritrade and other brokerages. In the third quarter, the company averaged 105,500 trades per day, far below the kind of volume Ameritrade and other brokers saw earlier this year when the stock market was still headed up.