E*Trade Reports Monthly Metrics

E*Trade Financial Corp. ETFC reported today that their Daily Average Revenue Trades (DARTs) fell 14% year over year for the quarter, but increased month over month by 17%. E*Trade said it added 17,627 U.S. brokerage accounts in April, bringing its customer base to 2.6 million. Prior-year growth was 31,524. Total customer assets were up 36% from a year ago at $162.4 billion. Assets rose 2.3% from the prior quarter. The company reported client inflows of $700 million, down from $900 million a year ago and $1 billion in March. E*Trade, among others online brokers, followed Charles Schwab Corp. SCHW at the beginning of this year in lowering their trading commissions schedules to reflect flat rate fees and drum up further account growth. Shares of E*trade were higher on the session by 0.67%, currently trading $1.50. I am long ETFC.