Back to top

Image: Shutterstock

Interactive Brokers (IBKR) Up as May DARTs Rise Sequentially

Read MoreHide Full Article

Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained 1.6% following the release of its Electronic Brokerage segment’s performance metrics for May 2023. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential basis.

Total client DARTs for the month were 1,860,000, which grew 5% from the April 2023 level but declined 19% year over year.

On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 186. The metric rose 3% sequentially but decreased 32% from the prior-year period. Cleared client DARTs for the month were 1,669,000, which increased 5% from April 2023 but fell 18% from May 2022.

IBKR’s total customer accounts rose 1% from the prior month and 19% from May 2022 to 2.26 million. Net new accounts were 33,900, up 18% from April 2023 but down 20% from the prior-year month.

Interactive Brokers’ total options contracts were 79.6 million in May 2023, increasing 22% from the prior month and 8% from the prior-year month. Futures contracts rose 20% on a sequential basis but declined 6% year over year to 17.3 million.

At the end of May 2023, client equity was $345.1 billion, up 1% sequentially and 10% year over year. Interactive Brokers recorded client credit balances of $98.7 billion, down 1% from April 2023 but 8% from May 2022. The company's customer margin loan balance of $39.8 billion increased 1% from the previous month but declined 10% year over year.

So far this year, shares of Interactive Brokers have rallied 8.5% against the industry’s 14.2% fall.

Zacks Investment Research
Image Source: Zacks Investment Research

IBKR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will report their monthly performance metrics later this month.

At present, Charles Schwab carries a Zacks Rank #3 and LPL Financial has a Zacks Rank #4 (Sell).

Published in