The stock was last quoted at $12.67, up 3.1%, on volume of 11.2 million, according to Nasdaq.com. Based on a regular session close at $12.29, the shares are down almost 18% year-to-date.
The move comes after both Bank of America/Merrill Lynch and Morgan Stanley announced efforts to move away from the practice.
The stock is breaking out of a triangle pattern that projects an 11% move higher.
They are the stocks that are key to this market.
Morgan Stanley currently has 15,000 brokers.