Charles Schwab to Launch Fractional Stock-trading in June

Charles Schwab is launching fractional stock-trading in early June, the firm announced, marking an effort to attract new investors in what's become a fiercely competitive arena for both new and legacy brokerage players. The offering will exclude exchange-traded funds and is limited to S&P 500 components. The move will allow investors to buy slices of individual stocks with a minimum of $5. The service, named "Schwab Stock Slices," will launch on June 9 and allow users to purchase up to 10 different "slices" at once.