Trading platform Robinhood Markets Inc. HOOD on Monday said user accounts ticked higher month-over-month in February, but said other metrics remained the same over that time. Net cumulative funded accounts — or accounts into which users put money or other assets — rose by around 50,000 to 23.1 million. Monthly active users at the end of February were 12 million, the same as in January. Assets under custody at the end of last month were $74.7 billion, in line with levels in January. Trading volumes rose for stocks rose 25% and 8% for options contracts, while crypto trading volumes fell 7%. Margin balances in February rose by around $300 million to $3.3 billion. Cash sweep balances in February were $8 billion, up around $900 million from January. Shares dipped 0.1% after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.