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Top trades by Australian Sharesight users — July 2024

by Stephanie Stefanovic, Content Manager, Sharesight | Jul 30th 2024

Welcome to the July 2024 edition of Sharesight’s monthly trading snapshot for Australian investors, where we look at the top 20 trades made by Australian Sharesight users.

You may notice our trading snapshot looks different this month, as we have updated the design and are no longer highlighting the top 20 ASX trades. Instead, we are presenting the top trades by Australian investors, regardless of market, because this is a better reflection of how Australians are actually investing. You will also notice that we highlight the top 20 trades (across all asset classes), as well as the top 20 stocks, which allows us to observe the broader investment trends by Australian Sharesight users, while also giving us an opportunity to zoom into the most popular stocks and the market-moving news behind them.

Top trades July 2024

Top 20 AU trades Jul24

Note: To get a closer look at this chart, you can right-click and open the image in a new tab (for desktop) or press-hold and download the image or open it in a web browser (for mobile).

This month, the top trades were led by Vanguard’s MSCI Index International Shares (ASX: VGS) and Australian Shares Index (ASX: VAS) ETFs, followed by the iShares S&P 500 (ASX: IVV) ETF. It was a strong month for ETF trading overall, with 12 of the top 20 trades consisting of ETFs. It’s also worth noting that the vast majority of these trades are buy trades, which is to be expected in such an ETF-heavy snapshot. Overall, this snapshot suggests that many Australian Sharesight users are employing a long-term buy-and-hold strategy.

Most-traded stocks July 2024

Top 20 AU shares Jul24

Note: To get a closer look at this chart, you can right-click and open the image in a new tab (for desktop) or press-hold and download the image or open it in a web browser (for mobile).

This month’s top-traded stocks were led primarily by buy trades in BHP (ASX: BHP), which has seen its share price plummet throughout July, with a lot of opportunistic Sharesight users choosing to buy the dip. The top trades were followed by Droneshield (ASX: DRO), which has also experienced tumbling prices throughout the month, with Sharesight users roughly split between buying and selling the stock.

It should be noted that the assets in our trading snapshots are ordered by the number of Sharesight users trading that asset, while the size of the bars indicate the actual trade volume. So while there are more customers trading in BHP, the volume of Droneshield trades is higher, meaning that while there are fewer people trading in Droneshield, they are making more trades.

Let’s look at some of the market-moving news behind some of this month’s top stocks:

BHP (ASX: BHP)

  • BHP and Lundin Mining to join forces to buy Filo Corp for C$4.5 billion
  • Share price drops despite proposed Filo Corp acquisition, as investors sell off due to commodity price slump
  • BHP share price has plummeted 16% in 2024

Droneshield (ASX: DRO)

  • Droneshield share price plummets, with investors turned off by quarter-on-quarter decline in revenue
  • Share price down 43% in just over a week

NVIDIA (NASDAQ: NVDA)

Woodside Energy (ASX: WDS)

Tesla (NASDAQ: TSLA)

Fortescue Metals (ASX: FMG)

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Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

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