10 most-traded ASX shares last week

The S&P/ASX 200 Index (ASX: XJO) closed 0.18% higher on Friday last week. At the time of writing on Tuesday lunchtime, the index is 0.3% lower for this week so far. The market is subdued ahead of the Reserve Bank of Australia’s December cash rate announcement this afternoon.

Here’s what Australian shares investors were snapping up during the first week of December, according to new CommSec data.

Droneshield takes the top spot for another week

Droneshield Ltd (ASX: DRO) shares were the most-traded Australian shares among CommSec clients between the 1st and 5th of November, based on contract note volumes either bought or sold weekly. The data shows that 58% of activity volume for the week was from buyers.

The AI drone operator’s shares dropped another 3% during the course of the week. Droneshield shares have been under significant pressure recently following the US CEO resignation, employee share sell-offs, and accidental ASX release. Analysts have said the selling is way overdone and that the stock is now priced very attractively.

Investors were selling up their BHP shares

BHP Group Ltd (ASX: BHP) shares came under heavy selling pressure last week, too. With a huge 80% of activity from CommeSec clients being sales of the mining giant’s stock. Over the course of the week, the ASX miner’s shares climbed just over 6%. This was mostly driven by an uptick in commodity prices.

The copper price hit a new all-time high of US$11,400 per tonne on the London Metal Exchange overnight on Wednesday. This means the base metal has now risen by more than 30% since the start of the year. Its increased use in the energy transition has been behind its strong rise.

Zip shares caught investor attention

Investor interest in Zip Co Ltd (ASX: ZIP) shares stormed higher last week. The company’s stock has delivered explosive growth over the past six months; however, over the course of last week, the shares dropped nearly 10%. There has been no price-sensitive news out of the company recently, so the dip is likely investors taking their profits after a strong price rally in the months before. Over the past 6 months, Zip shares have climbed 35.9%.

What else were investors buying and selling last week?

CommSec clients were also interested in Pilbara Minerals Ltd (ASX: PLS), Commonwealth Bank of Australia (ASX: CBA), CSL Ltd (ASX: CSL), WiseTech Global Ltd (ASX: WTC), and Vulcan Energy Resources Ltd (ASX: VUL) shares last week.

There was also a lot of activity around Fortescue Ltd (ASX: FMG) and Mineral Resources Ltd (ASX: MIN) shares throughout the week, but this was mostly investor selling.

The post 10 most-traded ASX shares last week appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, DroneShield, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.