Key takeaways:

• Money flow into and out of heavyweight banks hit record levels in April

• Tech earnings yielded above-average trading action across names like Amazon, Meta, Netflix, Tesla, and Microsoft

Earnings season took centre stage in April, with bank and tech stocks a key focus following concerns about the stability of the global financial system, and the outlook for the US economy.

Nonetheless, the Dow Jones advanced 2.5% across the course of the month and the S&P 500 inched higher by 1.5%, but the Nasdaq was flat for the month.

How did the Selfwealth community respond to a deluge of corporate results and economic figures? These were the most actively traded stocks last month.

US share trading activity

Despite its share price diving more than 20% throughout April, conviction in Tesla (NASDAQ: TSLA) remains higher than any other leading US stock in the Selfwealth community. Not only the most actively traded stock, the buy-to-sell ratio in the EV manufacturer was 78.9%, indicating that nearly four out of every five trades in TSLA saw investors buy shares in the tech business. Tech pair Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META) climbed up the list as quarterly results inspired traders to take action. There were different levels of conviction in the two stocks, however, with buys accounting for roughly two-thirds of all trades in Amazon, and just one-third of trading activity in Meta Platforms. 

Ironically, earnings results for the pair were received differently by the market. Amazon earnings disappointed on account of lacklustre cloud growth, whereas Meta delighted shareholders amid better-than-expected growth across users, revenue, and earnings. This outcome suggests Selfwealth members preferred buying into a sell-off rather than chasing a stock higher. 

Also in the spotlight amid earnings season, Netflix (NASDAQ: NFLX) was the 11th most traded US stock last month, up from 18th position in March. There was a bias that leant towards selling activity, which may have had something to do with the company mixed results. While the streaming giant first-quarter results were in line with expectations, forward guidance surprised to the downside.Top 20 stocks by tradesCode Security

Buy-sell Ratio

1. TSLA - Tesla (Buy-Sell Ratio: 78.9%)

2. AMZN - Amazon (Buy-Sell Ratio: 67.9%)

3. SQQQ - ProShares UltraPro Short QQQ ETF (Buy-Sell Ratio: 57.9%)

4. GOOGL - Alphabet (Buy-Sell Ratio: 62.0%)

5. MSFT - Microsoft (Buy-Sell Ratio: 58.9%)

6. AAPL - Apple (Buy-Sell Ratio: 43.2%)

7. BAC - Bank of America (Buy-Sell Ratio: 53.3%)

8. TQQQ - ProShares UltraPro QQQ ETF (Buy-Sell Ratio: 54.4%)

9. BOIL - ProShares Ultra Bloomberg Natural Gas (Buy-Sell Ratio: 60.0%)

10. META - Meta Platforms (Buy-Sell Ratio: 31.4%)

11. NFLX - Netflix (Buy-Sell Ratio: 43.1%)

12. NVDA - Nvidia (Buy-Sell Ratio: 36.7%)

13. C - Citibank (Buy-Sell Ratio: 47.8%)

14. SOXS - Direxion Daily Semiconductor Bear 3X Shares (Buy-Sell Ratio: 45.7%)

15. VOO - Vanguard 500 Index Fund ETF (Buy-Sell Ratio: 67.4%)

16. AMD - Advanced Micro Devices (Buy-Sell Ratio: 31.3%)

17. SOXL - Direxion Daily Semiconductor Bull 3X Shares (Buy-Sell Ratio: 58.6%)

18. BABA - Alibaba (Buy-Sell Ratio: 60.7%)

19. BBBY - Bed Bath & Beyond (Buy-Sell Ratio: 64.3%)

20. BRK.B - Berkshire Hathaway (Buy-Sell Ratio: 78.6%)

Leading financial institutions Citibank (NYSE: C) and Bank of America (NYSE: BAC) headline the list of the most traded stocks by value, with significant capital flowing through the duo. In fact, the pair recorded two of the highest figures we've seen for any US stocks on the Selfwealth platform, which was largely a reflection of their quarterly earnings released during the course of the month. 

It also follows a volatile period for the banking industry where a number of regional lenders collapsed, with bigger US banks viewed as beneficiaries as depositors sought new homes for their funds. Trade values in the duo soared a combined 154% versus already-elevated levels from the month prior.

Tech giant Microsoft (NASDAQ: MSFT) touched a yearly high during April, and that development was enough to spark an increase in trading activity. The value of all trades involving MSFT shares increased nearly 100% month-over-month. As a result, the stock jumped from 19th position to 8th position among the most traded US securities last month. 

Once again, earnings season proved a catalyst for trading action, with reassuring figures on the company cloud growth underpinning Microsoft share price rally.

On the other hand, money flow through Apple (NASDAQ: AAPL) uncharacteristically dropped off last month, with the value of trades in the tech giant down more than 90%, albeit from record levels. 

AAPL shares crept higher by 2.9% in April, which suggests traders may have sat on the sidelines in anticipation of the iPhone manufacturer quarterly earnings. This year, the company January quarter report is not scheduled till May 4, US-time, which is about a week later than usual.

Top 20 stocks traded by value and Buy-sell Ratio

1. C - Citibank (Buy-Sell Ratio: 49.8%)

2. BAC - Bank of America (Buy-Sell Ratio: 49.8%)

3. SQQQ - ProShares UltraPro Short QQQ ETF (Buy-Sell Ratio: 51.4%)

4. TQQQ - ProShares UltraPro QQQ (Buy-Sell Ratio: 50.0%)

5. TSLA - Tesla (Buy-Sell Ratio: 56.7%)

6. LABD - Direxion Daily S&P Biotech Bear 3X Shares (Buy-Sell Ratio: 51.6%)

7. SOXS - Direxion Daily Semiconductor Bear 3X Shares (Buy-Sell Ratio: 49.1%)

8. MSFT - Microsoft (Buy-Sell Ratio: 49.2%)

9. NFLX - Netflix (Buy-Sell Ratio: 47.6%)

10. SOXL - Direxion Daily Semiconductor Bull 3X Shares (Buy-Sell Ratio: 41.4%)

11. BOIL - ProShares Ultra Bloomberg Natural Gas (Buy-Sell Ratio: 51.7%)

12. UVXY - ProShares Ultra VIX Short Term Futures ETF (Buy-Sell Ratio: 54.4%)

13. TMF - Direxion Daily 20+ Year Treasury Bull 3X Shares ETF (Buy-Sell Ratio: 40.4%)

14. LABU - Direxion Daily S&P Biotech Bull 3X Shares ETF (Buy-Sell Ratio: 44.8%)

15. META - Meta Platforms (Buy-Sell Ratio: 29.8%)

16. OPEN - Opendoor Technologies (Buy-Sell Ratio: 48.0%)

17. AMZN - Amazon (Buy-Sell Ratio: 68.8%)

18. AFRM - Affirm (Buy-Sell Ratio: 42.6%)

19. AAPL - Apple (Buy-Sell Ratio: 40.0%)

20. FNGD - Bank of Montreal MicroSectors FANG Index 3X Inverse Leveraged ETN (Buy-Sell Ratio: 58.6%)

Which US shares are the most held?

On a percentage basis, holdings in investment conglomerate Berkshire Hathaway (NYSE: BRK.B) grew by more than any other name in the top 20 last month. The Warren Buffet-led company enjoyed a stellar month, with the BRK share price rallying 6.4%. 

Although there was no specific catalyst for the rally, BRK has gained favour during the current inflationary environment on account of the investment firm exposure to industries typically deemed inflation-proof', such as insurance, utilities, and energy.

Persistent volatility in the share price of Alibaba (NYSE: BABA) continues to rock the Chinese e-commerce giant. Down more than 17% last month, the cause for the stock decline was a recent artificial intelligence proposal from a Chinese regulator that suggested Chinese companies should be required to meet government protocols in order to provide AI services. As a result, BABA slipped one spot to number nine among the most held US stocks on the Selfwealth platform.Chip stocks Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) also went backwards across the course of the month, at least in terms of community exposure. Holdings in the duo were off by 8% and 12.6% respectively, which was at odds with high-flying tech names, yet worse than the broader Nasdaq index. It is possible Selfwealth members cut their stake in these names following significant share price rallies since the start of the year.Once the talk of the investment community, retail investors continue to reduce their exposure to GameStop (NYSE: GME). The video game retailer finished April as the 12th most held US stock in the Selfwealth community, its lowest ranking since creating shockwaves in the stock market amid a Reddit-inspired short squeeze. Excitement about the company first quarterly profit in two years has seemingly faded, and if anything, it looks like some investors sold into that news.Selfwealth members also appear to have lost patience in tech-oriented growth fund ARK Innovation ETF (NYSE: ARKK). Not only did the stock shed 11% across the course of the month, but the collective value of ARKK holdings on the Selfwealth platform declined 14.3%. ARK CEO Cathie Wood has added names like Tesla and Coinbase to the fund, but it looks like some investors are prepared to go it alone and invest directly in these stocks.

US Stock

1. TSLA - Tesla

2. AAPL - Apple

3. MSFT - Microsoft

4. RY - Royal Bank of Canada

5. GOOGL - Alphabet

6. AMZN - Amazon

7. BRK.B - Berkshire Hathaway

8. META - Meta Platforms

9. BABA - Alibaba

10. NVDA - Nvidia

11. VOO - Vanguard 500 Index Fund ETF

12. GME - GameStop

13. ENB - Enbridge

14. QQQ - Invesco QQQ Trust Series 1

15. SQQQ - ProShares UltraPro Short QQQ ETF

16. AMD - Advanced Micro Devices

17. ARKK - ARK Innovation ETF

18. TD - Toronto-Dominion Bank

19. BCE - BCE

20. DIS - Walt Disney

That all for this Trade Trends report, stay tuned for the next edition this time next month!

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