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Interactive Brokers (IBKR) Stock Up 6.1% as February DARTs Rise

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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained 6.1% in response to the release of its Electronic Brokerage segment’s performance metrics for February 2021. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a surge in Daily Average Revenue Trades (DARTs) for the reported month.

This increase can be attributed to the significant rise in trading activities owing to heightened volatility in February.  

Total client DARTs were 3,695,000, soaring 175% from February 2020 and 12% from January 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 679. This reflects a jump of 61% year over year and 4% sequentially.

Total customer accounts grew 76% from the prior-year month and 6% from January 2021 to 1.27 million. Net new accounts were 75,800, skyrocketing 402% from February 2020 but declining 35% from January 2021.

Interactive Brokers’ total options contracts were 72.4 million in February, up 73% from the year-ago month and 3% from the prior month. Futures contracts fell 16% on a year-over-year basis but rose 2% from the last month to 12.6 million.

At the end of February 2021, client equity was $329.9 billion, up 94% year over year and 5% sequentially. Also, Interactive Brokers recorded client credits balances of $85 billion, up 43% from February 2020 and 3% on a sequential basis. The company’s customer margin loan balance of $42.1 billion grew 46% from February 2020 and 3% from the previous month.

Over the past three months, shares of Interactive Brokers have rallied 40.3%, outperforming 26.4% growth recorded by the industry it belongs to.

The company currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Among other discount brokers, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and Tradeweb Markets Inc. (TW - Free Report) are set to report monthly performance metrics in the coming days.

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