OMAHA, Neb. (AP) — Online brokerage TD Ameritrade says the number of trades it handled declined again in July as uncertainty about the economy lingered, but the amount of client assets it held grew over last year.
The Omaha-based brokerage said Thursday that it handled an average of 332,000 trades per day in July. That’s 9 percent lower than last July, but 1 percent higher than this June.
The number of transactions is important to Ameritrade because it charges fees on the trades, but it also offer clues about overall investor sentiment. Ameritrade also generates revenue from fees on client assets in certain accounts.
Ameritrade says the total client assets it held at the end of July grew 9 percent over last year to $449.3 billion. That’s also 1 percent higher than this June.
