E-Trade Added 33,303 New Brokerage Accounts in August
E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for August 2012.
Daily Average Revenue Trades (“DARTs”) for August were 121,570, a five percent decrease from July and a 37 percent decrease from the year-ago period. The Company added 33,303 gross new brokerage accounts in August, ending the month with approximately 2.9 million brokerage accounts – an increase of 18,034 from July. Total accounts ended the month at approximately 4.4 million.
Net new brokerage assets were positive $1.1 billion in the month. During the month, customer security holdings increased by three percent, or $4.0 billion, and brokerage-related cash increased by $1.8 billion to $31.4 billion, as customers were net sellers of approximately $1.2 billion in securities. Bank-related cash and deposits ended the month unchanged, at $7.3 billion.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.