Interactive Brokers Stock Up 1.8% as August DARTs Improve

Interactive Brokers Group, Inc.’s IBKR Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for August 2017. The segment deals in clearance and settlement of trades for individual and institutional clients globally.

Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.

Further, net new accounts totaled 12,700 for the reported month, surging 144% from the prior-year month and 53% from the last month. However, on an annualized basis, the company recorded Cleared Average DARTs per customer account of 366,000 in June. This reflects a decrease of 1% year over year and 2% from the prior month.

Interactive Brokers’ total option contracts were 28.2 million, increasing 34% from August 2016 and 22% from July 2017. Future contracts grew 19% from both August 2016 and July 2017 to 11.1 million.

At the end of August 2017, client equity was $112.8 billion, up 40% year over year and 3% from the previous month. Also, Interactive Brokers recorded client credit balance of $46.8 billion for the reported month, up 13% year over year and relatively on par with the prior month. Further, the company’s customer margin loan balance of $24.3 billion jumped 49% from the prior-year period and 3% from the preceding month.

Following the announcement, shares of the company rallied 1.8%. Also, so far this year, Interactive Brokers’ shares have gained 16.8% against the industry’s decline of 0.9%.

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

Among other investment brokers, TD Ameritrade Holding Corporation AMTD, The Charles Schwab Corp. SCHW and E*TRADE Financial Corp. ETFC are likely to come up with their respective monthly metrics information in the coming days.

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