The S&P/ASX 200 Index (ASX: XJO) is trading in the green at Tuesday lunchtime, up 1.21% at the time of writing. It's a welcome uplift after Australian shares dropped 0.8% at the close of the index last week.
The index was largely affected by selling pressure among investors offloading their gold mining stocks. This was after the metal price slumped from its peak.
New data from CommSec reveals the Australian shares that were most traded by its clients last week, highlighting investor sentiment and market momentum.
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Most traded Australian shares in the last week of January
CommSec's data shows that Droneshield Ltd (ASX: DRO) continues to be a firm favourite among its clients. The drone operator's shares were the most traded Australian stock between the 26th and 30th of January.
Droneshield shares have gathered a lot of attention recently. The company is making great progress, and its share price continues to recover following the price crash late last year.
The shares are now just 43.4% below their all-time high of $6.60 seen in October. Over the course of last week, 58% of Droneshield activity was investors buying, but 42% was investors selling up and taking some recent gains.
At the time of writing, Droneshield shares are up 8.41% for the day to $3.74 a piece. For the year to date, the shares are up 12.16%. Analysts widely rate the shares as a buy following the company's strong quarterly update last week.
Next on CommSec's most traded Australian shares list are Global X Metal Securities Australia Ltd (ASX: ETPMAG) and BHP Group Ltd (ASX: BHP).
The data shows that 69% of trades in the silver exchange-traded fund ETPMAG were purchases, after surging silver prices were thrust into the spotlight last week. Meanwhile, 65% of trades in the mining giant BHP were sales after the miner took the top spot as the largest stock on the ASX.
What else were investors interested in last week?
CommSec clients were also interested in Global X Physical Gold Structured (ASX: GOLD), 4DMedical Ltd (ASX: 4DX), PLS Group Ltd (ASX: PLS), WiseTech Global Ltd (ASX: WTC), Lynas Rare Earths Ltd (ASX: LYC), and Perth Mint Gold Structured Product (ASX: PMGOLD). Most activity for each of these shares was buying.
Appen Ltd (ASX: APX) shares also made the top 10 most traded shares list during the week, but the majority of activity (41%) was investor selling.
