TD Ameritrade's Investor Movement Index: Registers Second Largest Month-to-Month Gain Since December 2012
07 July 2015 - 2:30AM
Business Wire
Similar to May’s activity, clients were net
buyers of equities and increases in volatility for some of the most
widely held names and relatively low volatility in the S&P 500
helped boost the IMX reading
TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer
subsidiary of TD Ameritrade Holding Corporation (NYSE: AMTD), is
today releasing the Investor Movement Index® reading for June 2015.
The Investor Movement Index, or the IMXsm, is a proprietary,
behavior-based index created by TD Ameritrade that aggregates Main
Street investor positions and activity to measure what investors
are actually doing and how they are positioned in the markets.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150706005139/en/
The June 2015 Investor Movement Index for the four weeks ending
June 26, 2015, reveals:
- Reading: 5.32 (compared to 4.91 in
May)
- Trend direction: Positive
- Trend length: 2 months
- Score relative to historic ranges:
Moderately High
Equity market exposure in TD Ameritrade client accounts rose
month-over-month as the IMX increased to 5.32 in June.
TD Ameritrade clients were net buyers of equities for a second
month in a row, which helped the IMX register its second largest
month-to-month increase since tracking began in December 2012.
Similar to the activity in May, increases in volatility for some of
the most widely held names and relatively low volatility in the
S&P 500 helped to boost the IMX reading.
The major indices saw a broad mix of returns over the June IMX
period. The Russell 2000 gained 2.67% during the month and set a
new all-time high during the fourth week. The NASDAQ Composite
began the period near its previous high and also set a new all-time
high during the fourth week, ending the period 0.21% higher. The
S&P 500 and the Dow Jones Industrial Average, both of which set
new highs last month, ended the June period slightly lower than
where they began, off 0.28% and 0.36% respectively. Even with the
S&P ending lower for the month, volatility in the index as
measured by the VIX continued to be range bound and briefly traded
below 12 near the end of the period. The 10-Year and 30-Year
Treasury rate indexes continued to climb higher, with the 30-Year
index setting a new year-to-date high to end the period. Also of
note was the June Federal Reserve meeting and its projection
materials, commonly referred to as the ‘dot plot’, showing a
tighter consensus about where rates will end the year.
“The first half of the year the S&P remained in one of the
tightest percentage ranges as related to movement in history,” said
JJ Kinahan, chief strategist, TD Ameritrade. “However clients
continued to find potential opportunities in the equity markets. In
doing so they have selectively dialed up their exposure over the
last two months.”
Some popular names saw price declines in the June IMX period and
were popular net buys. Apple Inc. (AAPL) and Twitter Inc. (TWTR),
both of which continued their downward trends into June, were net
buys as traders seemed to treat the lower prices as an opportunity
to build positions. Oil producer Chevron Corp. (CVX) was a net buy
as it crossed through a previous low set at in March 2015, around
the time when the price of crude oil began stabilize after as sharp
decline. Chesapeake Energy Corp. (CHK), also and energy producer in
the basic materials sector, was a net buy as it reached a new
52-week low in June. Dividend payers Johnson and Johnson (JNJ) and
Procter and Gamble Co. (PG) have been under pressure this year;
both have a dividend yield of over 3% and were net buys as
well.
Many of the names that were popular sells in May continued to be
popular net sells in June. General Electric Co. (GE) and Sirius XM
Holdings (SIRI), which have been recently range bound, were both
net sells in May and again in June. Bank of America Corp. (BAC) and
Citigroup Inc. (C) were also popular net sells in May and June
following steady increases in their share prices since March.
Facebook Inc. (FB) was issued a higher price target by two
investment firms and was also a popular net sell. AOL Inc. (AOL)
was a net sell as it announced the closing of a deal to be acquired
by Verizon Communications Inc. (VZ).
The IMX value is calculated based on a complex proprietary
formula. Each month, TD Ameritrade pulls a sample from its client
base of 6 million funded accounts that includes all accounts that
completed a trade in the past month. The holdings and positions of
this statistically significant sample are evaluated to calculate
individual scores, and the median of those scores represents the
monthly IMX.
For more information on the Investor Movement Index, including
historical IMX data going back to December 2010, to view the full
report from June 2015, or to sign up for future IMX news alerts,
please visit www.tdameritrade.com/IMX. Additionally, TD Ameritrade
clients can chart the IMX using the symbol $IMX in either the
thinkorswim or TD Ameritrade Mobile Trader platforms.
Inclusion of specific security names in this commentary does not
constitute a recommendation from TD Ameritrade to buy, sell, or
hold.
Past performance of a security, strategy or index is no
guarantee of future results or investment success.
Historical data should not be used alone when making investment
decisions. Please consult other sources of information and consider
your individual financial position and goals before making an
independent investment decision.
The IMX is not a tradable index. The IMX should not be used as
an indicator or predictor of future client trading volume or
financial performance for TD Ameritrade.
For the latest TD Ameritrade news and information, follow the
Company on Twitter, @TDAmeritradePR.
Source: TD Ameritrade Holding Corporation
About TD Ameritrade Holding CorporationMillions of
investors and independent registered investment advisors (RIAs)
have turned to TD Ameritrade’s (NYSE:AMTD) technology, people and
education to help make investing and trading easier to understand
and do. Online or over the phone. In a branch or with an
independent RIA. First-timer or sophisticated trader. Our clients
want to take control, and we help them decide how — bringing Wall
Street to Main Street for more than 39 years. An official sponsor
of the 2014 and 2016 U.S. Olympic and Paralympic Teams, TD
Ameritrade has time and again been recognized as a leader in
investment services. Please visit TD Ameritrade’s newsroom or
www.amtd.com for more information.
Brokerage services provided by TD Ameritrade, Inc., member
FINRA (www.FINRA.org)/SIPC (www.SIPC.org)
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version on businesswire.com: http://www.businesswire.com/news/home/20150706005139/en/
TD Ameritrade Holding CorporationFor Media:Beth Evegan,
201-369-5930Communications & Public
Affairsbeth.evegan@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor Relations &
Financejeffrey.goeser@tdameritrade.com
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