TD Ameritrade’s Investor Movement Index: IMX Shows a Steady Start to the Summer for Investors
July 07 2014 - 12:30PM
Business Wire
Investor activity remains relatively high and
unchanged from May to June
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 2014.
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.
The June 2014 Investor Movement Index for the four weeks ending
June 27, 2014, reveals:
- Reading: 5.67 (compared to 5.69 in
May)
- Trend direction: Negative
- Trend length: 1 month
- Score relative to historic ranges:
High
The IMX remained relatively flat month over month, as it
declined 0.02 to end the June period at 5.67.
The IMX climbed to its highest level in March 2014, hitting
5.87, but has declined and trended sideways for the last few
months. Volatility remained low in June while major U.S. equity
indices including the S&P 500, Nasdaq Composite, and Dow Jones
Industrials rose to new all-time highs. During the same period, the
IMX remained at the high end of end of its bullish range as TD
Ameritrade clients’ maintained high levels of market exposure in
the face of the continued market rally.
“The individual investor continues to demonstrate high levels of
participation in the face of this somewhat confusing low volume
rally,” said Nicole Sherrod, managing director of the trader group,
TD Ameritrade. “Our clients continued to use our tools and
platforms which we believe help to level the playing field between
what’s available to Wall Street and Main Street and bring clarity
to the investing process.”
Apple’s (APPL) forward split during the June IMX period made it
a popular trade, and many TD Ameritrade clients bought shares at
the lower price point following the split. A rotation into yield
was also a big theme in June. Clients were net buyers of some
dividend-paying ETFs, as well as of some individual equities
including Prospect Capital Corp (PSEC), AT&T (T) and Verizon
(VZ). As we have seen before, issuers that saw dips in price during
June were also popular buys. Some of these included Delta Airlines
(DAL), Lululemon (LULU), and Rite-Aid (RAD). Selling in the
technology sector was broad, and was reflected in net selling of
some familiar names such as Intel (INTC), Cisco Systems (CSCO),
Microsoft (MSFT), and Facebook (FB). Citigroup (C) and Bank of
America (BAC) were popular sells in the financial sector. Clients
also took profits in stocks that saw a price increase during the
month reflecting net selling in Tesla (TSLA), Netflix (NFLX), and
Baidu (BIDU).
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 2014, 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)/NFA
(www.nfa.futures.org)
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TD Ameritrade Holding CorporationFor Media:Kim Hillyer,
402-574-6523Communications & Public
Affairskim.hillyer@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor Relations &
Financejeffrey.goeser@tdameritrade.com
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