OMAHA, Nebraska — TD Ameritrade clients took advantage of earnings news in July to buy more stocks.
The online brokerage said that its Investor Movement Index increased to 5.39 in July from June's 5.32. The six-point index is based on what investors are buying and selling.
TD Ameritrade handled an average of 455,000 trades per day in July, which is 12 percent more than the previous year.
TD Ameritrade's JJ Kinahan says many clients sold stocks after positive earnings reports to collect profits. Popular sells included Google, Citigroup and General Electric.
Others investors bought stocks that had been under pressure such as oil producers Conoco-Phillips Corp., Exxon Mobil Corp. and Chevron Corp.