E*TRADE Financial Corporation (NASDAQ: ETFC) has just released its latest tranche of monthly metrics. April 2017 was a mixed bag although it managed to secure a steady rise in DARTs YoY.
CAPEX.com Presents Brand-New AwardsGo to article >>
In April 2017, E*TRADE revealed that Daily Average Revenue Trades (DARTs) pointed lower, coming in at 196,022 a day, a decrease by a factor of 3% MoM from 202,526 in March 2017. Over a yearly timetable however E*TRADE’s April 2017 DARTs were higher, a jump of 23% YoY, compared to 159,215 in April 2016.
In terms of E*TRADE’s net new accounts growth, the group continues to limp along after added only 62,432 gross new brokerage accounts in April 2017, compared to 71,631 set back in March 2017, which reflects a full 13.0% drop. However, again this figure is better when weighed against last year, as new brokerage accounts rose 4.0% from 60,263 in April 2016.
In total, this brings the company’s overall accounts to approximately 5.31 million in April 2017, which reflected a marginal increase of 6 percent compared to 5.03 million in April 2016, but almost no change MoM.
One area of strength for the month was E*TRADE’s brokerage customer assets which rose to 340.7 million last month, up 20 percent YoY from $284.9 million in 2016. Meanwhile, the month on month comparison also shows an increase of 1 percent from $335.7 million.