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E-Trade Oct. daily average revenue trades drop

NEW YORK (AP) -- Online brokerage E-Trade Financial said Wednesday that daily average revenue trades fell 21 percent in October compared with the same month last year.

The company added 23,365 gross new brokerage accounts during the month, down about 2 percent from September. At the end of October it had about 2.9 million brokerage accounts, 5,153 fewer than in September.

Last month E-Trade reported that it swung to a loss in the third quarter, as investors made far fewer trades than a year ago.

Shares of E-Trade Financial Corp. fell 18 cents, or 2.3 percent, to $7.82 in midday trading. Over the past 52 weeks, the stock has ranged from $7.08 to $11.50.