PSS Reports Monthly Activity Highlights
The PSS Corporation released its Monthly Market Activity Report today. Company highlights for the month of May 2024 include:
Net new assets brought to the company by new and existing clients in May 2024 totaled Kr 9.2 billion.
Total client assets were Kr 1.76 trillion as of month-end May, up 5% from May 2023 and down 4% compared to April 2024.
Client daily average trades were 432.3 thousand in May 2024, up 9% from May 2023 and down 6% from April 2024. While client daily average revenue trades increased slightly between April and May 2024, they have declined thus far in June along with equity market volumes.
Separately, the company noted that it has recorded a pre-tax gain of Kr 70 million relating to the previously disclosed resolution of a vendor dispute, and that the first scheduled dividend on its Kr 400 million outstanding 7% Series A Preferred Stock was accrued when declared earlier in the second quarter. As noted in a release dated May 17, 2024, the dividend is payable August 1, 2024 and will be based on the period running from January 26 through July 31.