Interactive Brokers Stock Gains 2.1% As June DARTs Increase

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

Total client DARTs were 683,000, up 6% from Jun 2016 and 1% from May 2017. Also, total customer accounts increased 20% year over year and 2% from the prior month to 427,900.

Further, net new accounts totaled 9,800 for the reported month, surging 133% from the prior-year month and 34% from the last month. However, on an annualized basis, the company recorded Cleared Average DARTs per customer account of 374,000 in June. This reflects a decrease of 11% year over year and 1% from the prior month.

Interactive Brokers’ total option contracts were 26.4 million, increasing 16% from Jun 2016 and 4% from May 2017. Future contracts declined 8% from Jun 2016 but increased 8% from May 2017 to 10.8 million.

At the end of Jun 2017, client equity was $104.8 billion, up 42% year over year and 2% from the previous month. Also, Interactive Brokers recorded client credit balance of $45.6 billion for the reported month, up 18% year over year and 3% from the prior month. Further, the company’s customer margin loan balance of $22.7 billion jumped 51% from the prior-year period and 1% from the preceding month.

Following the announcement, shares of the company increased 2.1%. Also, so far this year, Interactive Brokers’ shares have gained 4.7% compared with the Zacks categorized Investment Brokers industry’s rally of 0.3%.



Currently, Interactive Brokers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other investment brokers, TD Ameritrade Holding Corporation (NASDAQ:AMTD) , The Charles Schwab Corp. (NYSE:SCHW) and E*TRADE Financial Corp. (NASDAQ:ETFC) are likely to come up with their respective monthly metrics information along with second-quarter 2017 earnings releases.

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