Top discount brokerage Charles Schwab on Tuesday said customer stock trading dropped 7% in May from April, as low market volatility dissuaded clients from trading.

Daily average trades totaled 190,300 in May, representing a 7% decline from April, while year-over-year, trading rose 27%, Schwab said in a press release. Daily average revenue trades, or DART, rang 169,400 in May, also down 7% from April, but up 25% from the year-ago period.

But the company has noticed a ramp-up in trading activity in recent weeks, Chief Financial Officer Chris Dodds told Reuters in an interview.

"May trading activity was a bit more subdued than April's levels, in part due to some relatively sideways market conditions," Dodds said.

Total client assets now stand at a record-high $1.092 trillion as of May 31, marking an 11% increase from last year and 3% rise from the previous month. Net new assets brought to the company by new and current clients totaled $3.9 billion, compared with $4.4 billion a year ago.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.