By Stephen Nakrosis 
 

Charles Schwab Corp. on Tuesday said Schwab Stock Slices, "a new service that lets investors own any of America's leading companies in the S&P 500 for as little as $5 each," is now available to clients.

The service allows customers the opportunity to purchase a single stock slice, or up to 10 different slices at one time, the company said. Similar to regular stock trades, Schwab Stock Slices are purchased commission-free online.

"Stock Slices allows anyone to invest using fractional shares, and we're excited by the possibilities inherent in this functionality to enhance how clients invest," said Neesha Hathi, executive vice president and head of Schwab Digital Services.

Charles Schwab Corp. shares are trading higher on the New York Stock Exchange. At 12:22 p.m. EDT, the company's shares were 2.05% higher at $37.26.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 02, 2020 12:47 ET (16:47 GMT)