Charles Schwab Releases Monthly Market Activity Report (SCHW)
Financial services company, Charles Schwab Corp (SCHW) released its Monthly Market Activity Report for May on Friday.
The company’s new assets brought in by new and existing clients in May were $1.9 billion. The new assets for the month included a $10.3 billion outflow related to mutual fund clearing services client. The clearing is a part of a planned transfer which will total $80 billion. The company has already paid $18 billion to the client.
Total client assets in May were $2.11 trillion, a 20% increase from a year ago, but flat from April.
Daily trades made by clients were 505.4 thousand, up 17% from May 2012, and 8% from April.
Charles Schwab shares were mostly flat during Friday morning trading. The stock is up 39% YTD.
The Bottom Line
Shares of Charles Schwab Corp (SCHW) have a 1.20% yield, based on Friday morning’s price of $19.99.
Charles Schwab Corp (SCHW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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