TD Ameritrade Investor Movement Index: IMX Matches Equity Markets at Their High Point
October 10 2016 - 12:30PM
Business Wire
Clients bought up dividend payers, sold recent
gainers
TD Ameritrade, Inc. (“TD Ameritrade”), a broker-dealer
subsidiary of TD Ameritrade Holding Corporation (Nasdaq: AMTD) is
today releasing the Investor Movement Index® reading for September
2016. 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/20161010005797/en/
TD Ameritrade’s IMX (Credit: TD
Ameritrade)
The September 2016 Investor Movement Index for the four weeks
ending September 30, 2016, reveals:
- Reading: 5.49 (compared to 5.26 in
August)
- Trend direction: Positive
- Trend length: 2 months
- Score relative to historic ranges:
High
The IMX rose 4.37% percent to 5.49 in September as retail
investors increased their equity exposure for a second month.
Despite a brief spike mid-month, volatility of the S&P 500
remained low, helping to drive up relative volatility in some
widely held positions.
“Clients were net buyers in September, increasing their equity
exposure throughout the month,” said JJ Kinahan, chief market
strategist for TD Ameritrade. “Along with the high relative
volatility of some widely held positions, the IMX soared to its
highest point in two years at a time when the major equity markets
were at or near their all-time highs as well. As earnings season
gets underway in earnest this month, and the election looms, it
will be interesting to watch whether clients change up some of
their investment decisions after a couple months of volatility
being quiet.”
Tech stocks and small caps didn’t fall prey to the historically
dismal “September Swoon.” Both the NASDAQ Composite and Russell
2000 increased more than 1 percent. The S&P 500 was relatively
flat, losing just 0.04 percent, while the Dow Jones Industrial
Average was off 0.47 percent during the September IMX period. The
Fed met again in September and decided to hold their key rate
steady, but left the door open for a December rate hike, saying
“the case for an increase in the federal funds rate has
strengthened.”
Being net buyers this past month, TD Ameritrade clients scouted
dividend payers like Verizon Communications (VZ) and AT&T Inc.
(T). Both stocks yield more than 4 percent and have seen downward
pressure since setting new highs in July. Tech sector favorite
Facebook Inc. (FB), which set another all-time high early in the
month, remained a popular net buy in September. Clients also picked
up shares in companies that have seen recent declines as well.
Tesla Motors Inc. (TSLA) rebounded in September after declining in
August and was a net buy. Bristol-Myers Squibb (BMY) and Frontier
Communications Corp. (FTR) saw downward pressure in September and
were also net buys.
Clients still found some opportunities to unload popular and
widely held names sold in September, despite being net buyers.
Apple Inc. (AAPL) saw gains during the period surrounding the
announcement of its new model of phones and was net sold.
Netflix.com Inc. (NFLX), which has traded within a wide range since
declines earlier in the year, was also net sold. Companies seeing
recent gains were popular net sells as well in September. Alibaba
Group Holdings Ltd. (BABA) rose to a new 52 week high following a
favorable earnings announcement last month and was net sold. Intel
Corp. (INTC) rose to a new all-time high and was also net sold.
About the IMX
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 September 2016, 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 Corporation
Millions of investors and independent registered investment
advisors (RIAs) have turned to TD Ameritrade’s (Nasdaq:
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 40 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/20161010005797/en/
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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