The Charles Schwab Corporation : Charles Schwab May Trading Volume Up on Year, Down from April
06/14/2012| 09:24am US/Eastern
By Victoria Stilwell
Charles Schwab Corp.'s (SCHW) daily trading volume rose in May from a year earlier but slid from April, reflecting a recent decline in trading activity amid ongoing volatility in equity markets.
Schwab, the largest discount brokerage in the U.S. by client assets, said its daily average client trades totaled 432,300 last month, up 9% from a year earlier but down 6% from April.
Total client assets reached $1.76 trillion at May's end, an increase of 5% year-over-year but down 4% from April. Net new assets totaled $9.2 billion.
Charles Schwab in April reported its first-quarter profit fell 20% as higher money-market fund fee waivers overshadowed the brokerage's best period of core asset gathering since the first quarter of 2008.
Shares closed Wednesday at $12.14 and were inactive in premarket trading. The stock is down 26% during the last 12 months.
Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com