Barely half of Americans, 52 percent, now say they own stock outright or as part of a mutual fund or self-directed retirement account, Gallup reports. That's a 15-year low point.
Although the Dow Jones Industrial Average closed for the first time above 15000 Tuesday, a new poll finds that the percentage of Americans who own stocks stands at a 15-year low point.
Barely half of Americans, 52 percent, now say they own stock outright or as part of a mutual fund or self-directed retirement account, the polling group Gallup reported Wednesday.
The level has been falling for six straight annual surveys, even though US stocks have more than doubled in value since hitting a recession low point in 2009.
The decline in stock investing has been largest among middle-age and middle-income Americans, the poll found.
“Americans' ownership of stock may ... be more a function of their ability to buy it, than of whether its value is soaring,” Gallup senior editor Lydia Saad said in releasing the survey. “The nation's current [7.5 percent] unemployment rate, while improved, is still too high to support broader stock ownership.”