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Interactive Brokers (IBKR) April DARTs Up Y/Y on Solid Markets

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Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for April 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.

Total client DARTs were 2,181,000, jumping 27% from April 2020 but down 27% from March 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 370. This reflects fall of 26% year over year and 29% sequentially.

Total customer accounts soared 69% from the prior-year month and 3% from March 2021 to 1.36 million. Net new accounts were 24,200, down 26% from April 2020 and 43% from March 2021.

Interactive Brokers’ total options contracts were 60.6 million in April, up 39% from the year-ago month but down 23% from the prior month. Futures contracts fell 25% on a year-over-year basis and 29% from last month to 10.9 million.

At the end of April 2021, client equity was $344.4 billion, up 92% year over year and 4% sequentially. Also, Interactive Brokers recorded client credit balances of $82.4 billion, up 19% from April 2020 but down 2% on a sequential basis. The company’s customer margin loan balance of $45 billion grew 110% year over year and 7% from the previous month.

So far this year, shares of Interactive Brokers have rallied 15.6%, underperforming 27.7% growth recorded by the industry it belongs to.

Interactive Brokers currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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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