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Interactive Brokers (IBKR) Records Decline in February DARTs

Zacks Equity Research
We have highlighted funds that fared well in the first half of 2019.

Interactive Brokers Group, Inc. IBKR released its Electronic Brokerage segment’s performance metrics for February. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year decrease in Daily Average Revenue Trades (DARTs).

Total client DARTs were 824,000, down 19% from February 2018 and 3% from January 2019. Total customer accounts grew 21% from the prior-year month and 1% sequentially to 614,200.

Net new accounts were 7,400, plunging 33% year over year and 14% from the previous month. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 301,000. This reflects declines of 37% year over year and 6% from January 2019.

Interactive Brokers’ total options contracts were 22.9 million, down 32% from February 2018 and 16% from the last month. Similarly, futures contracts declined 43% from the prior-year month and 23% from the last month to 8.6 million.

At the end of February, client equity was $143.7 billion, up 10% year over year and 3% from January 2019. Further, Interactive Brokers recorded client credit balance of $52.3 billion, up 8% from the prior-year month and 3% sequentially. However, the company’s customer margin loan balance of $25.7 billion declined 8% from February 2018 but increased 8% from the prior month.

Shares of Interactive Brokers have declined more than 19% over the past year.
The stock currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other investment brokers, LPL Financial Holdings Inc. LPLA, The Charles Schwab Corp. SCHW and E*TRADE Financial Corp. ETFC are likely to report their monthly metrics information in the coming days.

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Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
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