OMAHA, Neb. (AFX) - Online brokerage TD Ameritrade Holding Corp. on Thursday said client daily average trades jumped 34 percent in August from the year-ago period, though volume dropped 7 percent from July 2006.
Ameritrade logged 196,000 average client trades per day last month, compared with 146,000 in August 2005, and 210,000 in July.
The company opened 30,000 new accounts and closed 14,000 accounts, bringing its account total to about 6.2 million. Client margin balances in August averaged about $7.2 billion. In July, average client margin balances totaled $7.6 billion.
Client assets totaled about $258 billion, of which cash and money market assets amounted to $38 billion. This is up from July, when the company reported total client assets of $254 billion.
Shares of Ameritrade rose 7 cents to $16.80 in aftermarket activity, after falling 46 cents in the regular session to close at $16.73 on the Nasdaq.
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