Gemma Dale is Director of SMSF and Investor Behaviour at nabtrade.
With reporting season looming, many investors are holding onto their existing portfolios.
Here are the Australian and US stocks investors have been buying and selling during the week.
The ASX has remained relatively flat over the past week, with investors turning their attention to these Australian and overseas stocks.
Zip, Afterpay, Sydney Airport and Fortescue are among the most traded stocks of the week.
After many months of opportunistically buying beaten up stocks in 2020, investors closed out the financial year by returning to blue chip companies.
The demerger of Woolworths and Endeavour Group led to huge buying in both companies, while CSL and BNPL stocks have seen mixed trading.
While cash levels remain at close to record highs, any fall in popular stocks can bring out the bargain hunters.
Investors are taking profits and rebalancing their portfolios prior to 30 June, and are finding few bargains to tempt their wallets.
While strong GDP numbers and economic strength have pushed the ASX to record highs, good news doesn’t necessarily lead to active trading.
Investors and traders continue to look to stocks hit by bad news for opportunities including Kogan and A2 Milk, while iron ore miners remain among the most traded stocks.
Fortescue, EML Payments and Appen are among the most traded stocks of the week, while many investors have turned to three ETFs in particular.
Fortescue and CSL have been strong buys for investors this week, while Afterpay, BHP and Rio have been sold off.