Top trades by Australian Sharesight users — September 2024

Welcome to the September 2024 edition of Sharesight’s monthly trading snapshot for Australian investors, where we look at the top 20 trades made by Australian Sharesight users. Below we will look at the top trades overall, plus the top trades in individual 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 in September 2024

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This month, the top trades were led by Vanguard’s International Shares (ASX: VGS) and Australian Shares (ASX: VAS) ETFs, followed by the iShares S&P 500 (ASX: IVV) ETF. It was a strong month for ETF trading overall, with 11 of the top 20 trades belonging to ETFs. 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 VGS, the volume of IVV trades is higher, meaning that while there are fewer people trading in IVV, they are making more trades.

Most-traded stocks in September 2024

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This month’s top-traded stocks were led primarily by buy trades in BHP (ASX: BHP), which saw its share price soar towards the end of September alongside a surge in the iron ore price, led by Chinese stimulus news and lower global supply. The top trades were followed by Fortescue Metals (ASX: FMG), which also saw its share price skyrocket throughout September.

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

BHP (ASX: BHP)

• Leading broker sees 19% upside for BHP
• BHP share price rises on Chinese stimulus news
• BHP warns AI growth will exacerbate copper shortage

Fortescue Metals (ASX: FMG)

• Fortescue signs US$2.8 billion green mining equipment deal with Liebherr
• Announces partnership with MacLean to help decarbonise mining industry

Woodside Energy (ASX: WDS)

• Woodside share price is down 30% YoY
• Share price struggling due to investor dissatisfaction over US acquisitions
• Woodside in talks with potential partners for Driftwood LNG project

Mineral Resources (ASX: MIN)

• Mineral Resources completes sale of 49% stake in Onslow Iron haul road
• Share price surges as iron ore price bounces back
• Leading broker forecasts 30% upside for Mineral Resources

NVIDIA (NASDAQ: NVDA)

• NVIDIA surpasses US$3 trillion market cap once again
• China urges companies to use local chip products rather than NVIDIA

Westpac (ASX: WBC)

• Westpac share price dips on news of CEO departure
• Share price up 52% YoY; nears 7-year high

Tesla (NASDAQ: TSLA)

• Tesla share price hits 2-month high with Q3 results and robotaxi event soon to come
• Tesla CEO Elon Musk on track to become world’s first trillionaire
• Tesla rival NEO receives US$1.43 billion cash injection

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FURTHER READING

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• Top trades by Australian Sharesight users — August 2024