Why Charles Schwab Stock Bumped Almost 4% Higher on Monday
Yahoo Finance ·
We can't say that Charles Schwab 's ( SCHW +3.79% ) proprietary equity index is as closely followed as, say, the S&P 500 index. But when the Schwab Trading Activity Index (STAX) rises notably, investors take notice. That was the dynamic behind the brokerage's nearly 4% price bump on Monday. During that day's trading session, Schwab announced that its self-named index had risen to 59.12 in June, notably up from its May level of slightly over 55. That set a multi-year high, the company pointed out. This is indicative of more than just investor eagerness to own stock, at least according to STAX's owner. The veteran financial company claims that it's a unique behavioral index " that analyzes retail investor stock positions and trading activity from Schwab's millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. The company wrote that STAX's June performance was bolstered by bargain-hunting during market pullbacks. Schwab investors were net buyers of index and exchange-traded fund (ETF) options, while they also plowed into tech, communications, and consumer discretionary stocks. By age group, the STAX data showed that Generation X investors were particularly bullish in June.
DYAX Investor Sentiment
Bullish (Long) 67% · Bearish (Short) 33%
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