Shares of E*TRADE Financial have rallied 2.5% following the release of its monthly market activity report. The company reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives comprised 33% of DARTs.
At the end of November, E*TRADE’s total number of accounts were approximately 7.2 million, comprising about 5.1 million retail accounts, 1.9 million corporate services accounts, and 0.1 million advisor services accounts.
Also, E*TRADE reported net new accounts of 35,373 for November. Total brokerage accounts highlight the company’s ability to gain and retain customers who trade and invest.
Further, E*TRADE’s net new retail assets came in at $2.4 billion compared with $0.7 billion in the previous month and $16.4 billion in November 2018.
At the end of November, E*TRADE’s customer security holdings were $301 billion, up 3% from October 2019 and 13% year over year. The company’s brokerage-related cash and deposits came in at $68.7 billion, increasing 4% from the prior month and 17% from the prior-year month.
However, bank-related cash and deposits of $4.2 billion declined 58% sequentially and 26% year over year.
Improvement in DARTs and new brokerage accounts will likely prove to be beneficial for the company.
Shares of E*TRADE have rallied 4.9% so far this year, underperforming the industry’s rise of 17.4%.
E*TRADE currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Release Dates of Other Investment Brokers
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
LPL Financial Holdings (LPLA - Free Report) and Charles Schwab (SCHW - Free Report) are expected to release its November activity report in the coming days.
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Shares of E*TRADE Financial have rallied 2.5% following the release of its monthly market activity report. The company reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives comprised 33% of DARTs.
At the end of November, E*TRADE’s total number of accounts were approximately 7.2 million, comprising about 5.1 million retail accounts, 1.9 million corporate services accounts, and 0.1 million advisor services accounts.
Also, E*TRADE reported net new accounts of 35,373 for November. Total brokerage accounts highlight the company’s ability to gain and retain customers who trade and invest.
Further, E*TRADE’s net new retail assets came in at $2.4 billion compared with $0.7 billion in the previous month and $16.4 billion in November 2018.
At the end of November, E*TRADE’s customer security holdings were $301 billion, up 3% from October 2019 and 13% year over year. The company’s brokerage-related cash and deposits came in at $68.7 billion, increasing 4% from the prior month and 17% from the prior-year month.
However, bank-related cash and deposits of $4.2 billion declined 58% sequentially and 26% year over year.
Improvement in DARTs and new brokerage accounts will likely prove to be beneficial for the company.
Shares of E*TRADE have rallied 4.9% so far this year, underperforming the industry’s rise of 17.4%.
E*TRADE currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Release Dates of Other Investment Brokers
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
LPL Financial Holdings (LPLA - Free Report) and Charles Schwab (SCHW - Free Report) are expected to release its November activity report in the coming days.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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