Top trades by Australian Sharesight users — August 2024

Welcome to the August 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 August 2024

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This month, the top trades were led by Vanguard’s Australian Shares (ASX: VAS) and International Shares (ASX: VGS) 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’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, taking advantage of recent dips in the market to bolster their ETF investments.

Most-traded stocks in August 2024

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This month’s top-traded stocks were led primarily by buy trades in BHP (ASX: BHP), which reported strong FY24 results, including revenue growth and increased copper production. The top trades were followed by Fortescue Metals (ASX: FMG), which also reported strong FY24 results, although the company made the decision to decrease its dividend payout to investors.

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

BHP (ASX: BHP)

• BHP share price rises as company reports revenue growth in FY24 results
• Vows to grow iron ore export volumes despite declining Chinese demand
• Plans to expand copper production as iron ore challenges loom ahead

Fortescue Metals (ASX: FMG)

• Fortescue reports strong FY24 earnings
• Invests AU$22 million in white hydrogen explorer HyTera
• Commences work on US$50 million green metals project in Pilbara

Woodside Energy (ASX: WDS)

• Woodside share price rises as CEO assures investors that dividend payouts will remain strong
• Revenue plummets 19% due to fall in commodity prices
• Woodside receives interest in potential selldown of Beaumont ammonia project

NVIDIA (NASDAQ: NVDA)

• NVIDIA share price drops despite record sales; investors concerned about slowing rate of growth
• Raises revenue expectations amid high demand for its next-gen chip

Droneshield (ASX: DRO)

• Droneshield completes AU$120 million capital raise
• Share price slips following first-half earnings report

Audinate (ASX: AD8)

• Leading broker downgrades stance on Audinate amid market surge
• Audinate reports strong FY24 results; share price plunges on FY25 guidance

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FURTHER READING

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• How Sharesight calculates your investment performance
• Top trades by Australian Sharesight users — July 2024