E*TRADE Financial Corporation (NASDAQ: ETFC) has reported its monthly metrics report for February 2017, which by and large kept up its pace with the rest of the industry in the calendar year. Its latest volumes show a healthy growth in its DARTs, despite less volatile markets during February, according to an E*TRADE financial report.
Looking at its latest statistics in February 2017, E*TRADE’s Daily Average Revenue Trades (DARTs) were reported at 218,964, rising by a factor of 8.7 percent month-over-month from 201,464 in January 2017. Over a yearly interval, E*TRADE’s February 2017 DARTs were also on the uptick, as indicated by a boost of 10.7 percent year-over-year, compared to a DARTs figure of 164,077 set back in February 2016.
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Sustained Account Growth
In terms of E*TRADE’s net new accounts, the group managed to secure an increase of 62,287 gross new accounts in February 2017 – the group’s large number of new accounts has been a recurring trend in 2017, especially at a time when brokerage accounts in the US are having their commissions slashed. By comparison, January 2017 had added 62,340 new accounts, which was essentially flat on a month-over-month basis.
Additionally, the uptick in new accounts was even larger compared to the year prior, which saw just 55,157 accounts added in February 2016. The trend has been present at E*TRADE for the past several months now as it has continually attracted new customers. In total, this brings the company’s overall accounts to approximately 5.27 million in February 2017, up from 5.25 million in January 2017.
Finally, E*TRADE also saw its customer security holdings yield a figure of $241.2 million during February 2017, up 4.2 percent month-over-month against $231.4 million set in January 2017.