Volume Up at Online Brokers
Two online brokerages released figures from July showing increased trading activity and gains in clients assets under management.
Charles Schwab
(SCH)
said total client assets were $1.14 trillion in July, up 17% over a year earlier and 3% over the prior month.
Its daily average trades for July totaled 214,100, up 42% over the year-earlier period and up 7% from June.
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Separately,
Ameritrade
(AMTD) - Get TD Ameritrade Holding Corporation Report
said it opened 23,000 accounts during the month and closed 14,000, for a total of about 3.7 million accounts.
It recorded 144,000 average client trades per day in July, and its client assets totaled about $82.2 billion, of which cash and money market assets were $13.2 billion.
Shares of Charles Schwab were recently trading up 11 cents, or 0.8%, to $13.86; while shares of Ameritrade were breaking even on the session.
