TD Ameritrade clients sold some stocks in July
OMAHA, Neb. (AP) — Online brokerage TD Ameritrade says many of its investors sold some stocks in July to take profits but they remained engaged in the market.
The Omaha-based company said Monday that its Investor Movement Index fell to 4.87 in July from June's 5.15.
The six-point index is based on what TD Ameritrade Holding Corporation's 6 million clients were buying and selling. Inactive accounts are excluded.
Ameritrade's Steve Quirk says investors were selling stocks that had performed well recently like Hewlett-Packard, Baidu and EMC Corporation.
But Quirk says many clients took the money from their sales and invested in other stocks.
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