Interactive Brokers (IBKR) Increases Inventory 6.1% As DARTs Rise In February
Shares Interactive Broker Group, Inc. IBKR gained 6.1% in response to the release of performance indicators for its electronic brokerage segment for February 2021. The segment, which deals with clearing and settlement of transactions for individual and institutional clients globally, has reported an increase in Average Daily Income (DART) transactions. for the declared month.
This increase can be attributed to the significant rise in trading activity due to increased volatility in February.
The total number of DART clients was 3,695,000, up 175% from February 2020 and 12% from January 2021. On an annualized basis, the company recorded an average of DART cleared per client account of 679. This reflects a jump of 61% year over year and 4% sequentially. .
Total accounts receivable increased 76% from the month of the previous year and 6% from January 2021 to reach 1.27 million. The new net counts were 75,800, soaring 402% from February 2020 but down 35% from January 2021.
Interactive Brokers’ total options contracts stood at 72.4 million in February, up 73% from the month of the previous year and 3% from the previous month. Futures contracts fell 16% year-on-year, but were up 2% from last month to 12.6 million.
At the end of February 2021, customer equity stood at $ 329.9 billion, up 94% year-on-year and 5% sequentially. Additionally, Interactive Brokers recorded customer credit balances of $ 85 billion, up 43% from February 2020 and 3% on a sequential basis. The company’s customer margin loan balance of $ 42.1 billion was up 46% from February 2020 and 3% from the previous month.
Over the past three months, shares of Interactive Brokers have risen 40.3%, surpassing the 26.4% growth recorded by the industry it belongs to.
The company currently holds a Zacks Rank # 1 (strong buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
Among other discount brokers, LPL Financial Management Inc. LPLA, Charles Schwab SCHW and Tradeweb Markets Inc. TW is expected to report on monthly performance metrics in the coming days.
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