E*TRADE Financial Corporation (NASDAQ: ETFC) has just released its monthly metrics report for August 2016, having seen a slight decrease in its monthly DARTs, largely refusing to break out of a recent consolidation that has characterized the brokerage's performance in H2 2016 thus far, E*TRADE Financial report.
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Looking at its latest volumes in August 2016, E*TRADE’s Daily Average Revenue Trades (DARTs) came in at 143,831, falling by a factor of -2.2% MoM from 147,100 in July 2016. By extension, over a yearly interval, E*TRADE’s August 2016 DARTs were sizably lower, as indicated by a decline of -20.1% YoY, given a DARTs figure of 179,908 set back in August 2015.
Account Growth Slows
However, in terms of E*TRADE’s net new accounts, the group managed to secure an increase of 8,840 gross new accounts in August 2016 – while this figure represents continued account growth, it is weaker when weighed against the prior month. July 2016 had added 11,288 new accounts, which represents -21.7% MoM, largely influenced by one of the slowest trading months of the year, largely mired in low Volatility . In total, this brings the company’s overall accounts to approximately 5.07 million in August 2016, up from 5.06 million in July 2016.
Finally, E*TRADE also saw its customer security holdings Yield a figure of $299.9 million during August 2016, virtually unchanged MoM against the $298.8 million set in July 2016, though 4.5% higher YoY from $287.2 million in August 2015.
