Key takeaways: 

• Companies particularly vulnerable to potential tariffs were among the most traded shares last month, including Apple, Nike, and Novo Nordisk. 

• The surging price of gold also drew support from investors trading in this segment. 

• It is important to always do your own research before making decisions to invest.  

• Past performance is not an indicator of future performance. 

As the month started with an escalation in global trade tariffs, investors scrambled to the sidelines, sending global equities markets sharply lower. However, as policy changed, so too did market sentiment, with a major reversal occurring. 

By the end of the month, the Dow Jones and S&P 500 had mitigated their monthly declines to 3.2% and 0.8% respectively, while the Nasdaq Composite even managed to finish in the green, lifting 0.9%. 

Those results highlight the leading role that the Information Technology sector played in the market turnaround. And that was something it seems Selfwealth investors were attuned to, with trading data pointing to widespread interest across this sector as popular names tumbled to multi-month lows.  

Here’s a recap of last month’s US share trading action. 

US share trading activity 

 Just a month after having already set a platform record for US monthly trade volumes, Nvidia (NASDAQ: NVDA) reset this feat in April. At one stage, NVDA was trading at an 11-month low, burdened by concerns about the impact of global tariffs on its semiconductor operations. 

Nonetheless, Selfwealth investors were largely ‘bullish’ about the stock, with buying conviction remaining high at 58.1%There remained strong enthusiasm for some of the market’s tech stalwarts, particularly in mega-cap territory.  

For example, Alphabet (NASDAQ: GOOGL) moved two spots higher to finish the month as the third most actively traded US stock on the Selfwealth platform. Total trade volumes in GOOGL leapt 50.2%, with more than three out of every four trades being buys. 

In a similar vein, Amazon (NASDAQ: AMZN), which held onto fourth spot, recorded a 38.4% increase in trades, while trades in Apple (NASDAQ: AAPL) surged 69.4% month-over-month. Both stocks were directly impacted by mooted trade tariffs, with Amazon’s e-commerce division exposed to tariffs associated with the goods its sellers’ import. On the other hand, Apple has sought to shift production of US-sold iPhones from China to India amid an estimated US$900 million hit this quarter. 

Further down the list, Nike (NYSE: NKE) was the 14th most traded US stock across the Selfwealth community. Among the top 20 names, it was also the stock with the highest buy-to-sell ratio, with a result of 87.0% indicating strong buying support for the athletic apparel and footwear business.  

Last month, shares in Nike sank to a seven-and-a-half year low, with investors spooked by the companys' exposure to tariffs. The business produces half of its shoes in Vietnam, which was initially slapped with a 46% tariff by the USA. Nike also produces a significant volume of goods in Indonesia and China. Nonetheless, based on buying data, it would appear that Selfwealth investors might expect a more positive outlook if trade deals materialise and diminish the impact of tariffs. 

For only the second time on the Selfwealth platform, Novo Nordisk (NYSE: NVO) featured among the top 20 most traded US stocks. It was exactly one year after the stock’s last appearance on this list.  

The surge in trading interest in NVO coincided with a near two-and-a-half year low for the obesity drug manufacturer, with the pharmaceutical sector on edge amid a warning it too would be subject to separate US tariffs over the coming months. Even in the face of said risk, NVO recorded a buy-to-sell ratio of 82.1%, the second highest of any top 20 share, while also representing a significantly bullish view towards the stock. 

By volume, Direxion Daily Semiconductor Bull 3X Shares (NYSE: SOXL) was the most traded ETF, with trades nearly tripling over the month. In keeping with the trading surge noted for Nvidia, semiconductor shares were one of the most volatile segments of the market last month, initially caught up in the tit-for-tat tariff outbreak between the US and China, before the latter subsequently exempted some US-made chips from its tariffs. Please undertake your own research and past performance or trends are not an indicator of future performance. 

Recording a third straight increase, trades in the ProShares Ultra VIX Short-Term Futures ETF (NYSE: UVXY) rocketed higher once again, this time up 45.7%. As we have seen on prior occasions, trading volume in the fund has typically increased as broader market volatility has done in kind. 

The other major mover, albeit from a sentiment perspective, was the Vanguard S&P 500 ETF (NYSE: VOO). Buying conviction in the fund increased 6.6 percentage points, with more than four out of every five trades being buys. 

By value, Nvidia was also responsible for the most money flow on the platform last month. 

In second position, the SPDR S&P 500 ETF Trust (NYSE: SPY) featured among the top 20 securities traded by value for the first time. The fund, which is designed to track the S&P 500 index, garnered significant money flow, with much of that occurring through the first third of the month when the market was sold down sharply. 

Broader market volatility also facilitated interest in various leveraged trades, ranging from those offering exposure to chips like the Direxion Daily Semiconductor Bull 3X Shares and Direxion Daily Semiconductor Bear 3X Shares (NYSE: SOXS), to the Nasdaq 100 courtesy of the ProShares UltraPro Short QQQ (NASDAQ: SQQQ) and the ProShares UltraPro QQQ (NASDAQ: TQQQ), and the Volatility Index on account of the aforementioned ProShares Ultra VIX Short-Term Futures ETF. 

Rounding things out, there was also strong interest in gold exposure, which was a phenomenon we also witnessed across the ASX through April. In this case, the SPDR Gold Trust (NYSE: GLD) ranked 18th for money flow across all US securities. With the price of gold resetting its all-time high on multiple occasions last month, the precious metal staged a major rally. 

Which US shares are the most held? 

Not short of making headlines this year, Tesla (NASDAQ: TSLA) remains a clear leader out the front of the pack when it comes to the most held US share on the platform. Through April, collective holdings in the electric vehicle manufacturer grew by 6.4%. That was underpinned by a combination of net inflows, a ‘bullish bias’ to trading volumes, as well as the stock’s underlying share price gain across the month. 

Software giant Microsoft (NASDAQ: MSFT) moved one spot higher into fourth position after strong buying support from the Selfwealth community. While the head stock rallied 5.3% through April, the overall value of Selfwealth holdings in MSFT grew by 9.6%. This reflects what can only be described as a positive view among the community towards the company, which delivered its quarterly earnings at the end of the month, including 20% growth for its Cloud division. 

The price of Bitcoin surged 16.5% last month, which in turn offered a tailwind to the likes of MicroStrategy (NASDAQ: MSTR) and iShares Bitcoin Trust ETF (NASDAQ: IBIT). Community holdings in the pair increased by 20.3% and 14.1% respectively, with MSTR up three spots to seventh position, and IBIT gaining one spot to finish April as the 14th most held US security by value. Please undertake your own research and past performance or trends are not an indicator of future performance. 

On the other hand, with the backdrop of US-China trade tariffs, Alibaba (NYSE: BABA) was materially impacted by weak sentiment. The Chinese-based e-commerce giant saw its share price sink nearly 25% before ultimately finishing the month lower by 9.7%. However, community holdings in BABA decreased by 18.2% last month, and that led to Alibaba slipping one spot to 13th among the rankings. 

Finally, GameStop (NYSE: GME) and Robinhood (NASDAQ: HOOD) also managed to record strong growth in overall holdings on the platform, up 21.5% and 12.9% respectively. The pair rounded out April as the 15th and 18th most held US securities by value. 

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