Fidelity’s Daily Trading Activity Slows From Previous Quarter
(Bloomberg) -- Fidelity Investments reported a sequential decline in trading activity in the third quarter, after a torrid first half of the year.
Daily average trades totaled 2.4 million in the period, an 8% drop from the previous three-month period, the Boston-based company said Monday in a statement. Still, the figure was 12% higher than 2020’s third quarter.
Some competitors also recorded a slowdown coming off of the first six months of the year, which included the retail-trading frenzy that drove up so-called meme stocks such as GameStop Corp. and AMC Entertainment Holdings Inc.
Robinhood Markets Inc.’s third-quarter transaction revenue dropped 41% from the previous three-month period. Charles Schwab Corp.’s average daily trades slipped to 5.5 million from 6 million.
©2021 Bloomberg L.P.