Key takeaways:

• Volatile commodity prices were a primary driver for trades in iron ore, lithium, and gold stocks

• Regional Bank of Queensland failed to keep up with a rebound in bank stocks, but investors doubled down on the underperforming name

The local share market rebounded from its March blip to post a return of 1.8% across the course of last month.

For the most part, financials rebounded following their sudden sell-off the month prior, but health care, real estate, technology, and industrials were other sources of gains. On the other hand, the index-heavy materials sector, which mostly comprises resources stocks, capped the market upside.

Here is a recap of April trading action from across the Selfwealth community.

What are the most popular ASX shares and ETFs?

The popularity of bank stocks continued to grow throughout April, not only evident by their presence among the top holdings in the Selfwealth community, but growth in the value of all bank holdings. Commonwealth Bank (ASX: CBA), Westpac (ASX: WBC), ANZ (ASX: ANZ), and National Australia Bank (ASX: NAB) all recorded low-to-mid single-digit growth in holdings, entrenching their positions within the top seven. On the back of March takeover bid from NYSE-listed lithium giant Albemarle, Liontown Resources (ASX: LTR) retained its position among the top 20 most popular ASX shares. The stock gained 6.2% in April as investors raised their hopes of another takeover bid at a higher price, and with rumours suggesting other parties could be waiting in the wings to launch a bid.Telstra (ASX: TLS) shares, up 3.6% last month, at one stage touched a near six-year high, but that did little to arrest the stock from falling one spot to the 15th most held security. In fact, it appears as though the telecommunication giant popularity took a backwards step.

The value of community holdings in TLS shrank 9.9% in April. That was underpinned by a combination of unusually low buying activity and heavy selling pressure, suggesting a few investors with large holdings may have called time on the stock.

Flight Centre (ASX: FLT) rejoined the top 20 as the recovery in the travel agency share price continued throughout April. One of the main reasons contributing to FLT resurgence could be the reduction in short interest in the stock. Shorters generally need to buy back shares in a stock in order to close out their position, and if this happens across a very short period, it can lead to something called a short squeeze. At one stage last month, short interest in FLT briefly dipped below 10% for only the second time in 18 months.

1NEUNeuren Pharmaceuticals 2CBACommonwealth Bank 3BHPBHP4CSLCSL5WBCWestpac6ANZANZ7NABNational Australia Bank8MQGMacquarie Group9AFIAustralian Foundation Inv10FMGFortescue Metals Group11WDSWoodside Energy12PLSPilbara Minerals13WESWesfarmers14LTRLiontown Resources15TLSTelstra16RIORio Tinto17SOLWashington H. Soul Pattinson and Co18WOWWoolworths19ARGArgo Investments20FLTFlight CentreASX ETFsCompany1VASVanguard Australian Shares Index ETF2VDHGVanguard Diversified High Growth Index ETF3VGSVanguard MSCI Index International Shares ETF4IVVIshares S&P 500 ETF5A200BetaShares Australia 200 ETF6VTSVanguard U.S. Total Market Shares Index ETF7NDQBetaShares Nasdaq 100 ETF8VEUVanguard All-World ex-U.S. Shares Index ETF9VHYVanguard Australian Shares High Yield ETF10DHHFBetaShares Diversified All Growth ETF

ASX share trading activity

Regional lender Bank of Queensland (ASX: BOQ) was among the most actively traded stocks in April, with the bank left reeling amid a series of setbacks. Already on the outer following the Silicon Valley Bank collapse in the US, BOQ hit a fresh multi-year low after unveiling an impact to its earnings.

As part of its half-year results, the company booked a $260 million hit in relation to a write-down, as well as higher risk management expenses, while also slashing its dividend. Compliance issues also rattled the market confidence in the stock, but with BOQ trailing yield growing larger as its share price declined, Selfwealth members bought the stock in droves. Across the month, more than 80% of trades were purchases, the highest ratio of any top 20 name.

Iron ore and lithium producer Mineral Resources (ASX: MIN) was another name gaining traction within the community last month. That followed a volatile period for commodity prices, as the spot price for lithium wiped out all its gains since November 2021. Iron ore stocks also faced questions as Chinese steel producers made calls to curb output in an effort to prop up steel prices. Trading in MIN was roughly split down the middle between buying and selling activity.Two coal stocks also made the cut courtesy of New Hope Corporation (ASX: NHC) and Whitehaven Coal (ASX: WHC). A contrasting story of the duo popularity was largely reflective of each stock share price performance last month, with NHC shares slumping 6.5%, but WHC rallying 7% despite issuing a production downgrade late in the month. 

New Hope shares largely fell in response to the stock trading ex-dividend during the month. This may have prompted lower uptake among new investors, while also leading to some existing investors disposing of their holdings given the dividend entitlement passed.

At the start of April shares in Qantas (ASX: QAN) hit their highest level in more than three years, which may have sparked a round of profit taking among Selfwealth members. QAN was the 16th most traded stock last month, but only 38.4% of all trades were buy orders. Investors may have been cognisant about impending leadership changes - something that has since been announced - as well as the company forthcoming capital expenditure program to revitalise its ageing fleet.Top 20 stocks by tradesCode Security

Buy-Sell Ratio

1VASVanguard Australian Shares Index ETF

75.8%

2PLSPilbara Minerals

59.2%

3VDHGVanguard Diversified High Growth Index ETF

74.4%

4VGSVanguard MSCI Index International Shares ETF

73.8%

5BHPBHP

62.6%

6IVVIshares S&P 500 ETF

78.7%

7NDQBetaShares Nasdaq 100 ETF

60.9%

8FMGFortescue Metals Group

51.4%

9A200BetaShares Australia 200 ETF

74.2%

10CXOCore Lithium

50.2%

11LKELake Resources

63.4%

12MINMineral Resources

51.9%

13BOQBank of Queensland

80.5%

14WDSWoodside Energy

53.0%

15WBCWestpac

51.9%

16QANQantas

38.4%

17NHCNew Hope Corporation

65.5%

18WHCWhitehaven Coal

40.8%

19ANZANZ

50.7%

20VTSVanguard U.S. Total Market Shares Index ETF

65.1%

Heavyweight names BHP (ASX: BHP) and Fortescue Metals Group (ASX: FMG) accounted for a significant portion of money flow throughout the Selfwealth community last month. 

Ranking first and fourth respectively, money was mostly flowing out of these stocks, despite both stocks seeing more buy orders than sell orders. That suggests investors with larger holdings had the conviction to reduce their iron ore exposure in light of signs the Chinese economy is experiencing a patchy recovery. 

Share price volatility provided the perfect recipe for heightened trading activity in perennial community favourite Pilbara Minerals (ASX: PLS). Shares in the lithium producer were trading as much as 10% lower in the early stages of the month before recovering to finish 7.6% higher. Not only the second most popular stock by trade numbers, PLS also ranked the same position for trades by value. A slight majority of money flow into PLS leaned towards selling activity, which was in keeping with industry peer Core Lithium (ASX: CXO) as the price of lithium extended its downturn.Money continues to flow into the Betashares Australian High Interest Cash ETF (ASX: AAA), with the income-generating ETF recording a record result in April, placing sixth among the most traded securities by value. Furthermore, over two-thirds of all money flow relating to AAA was driven by buying activity. This indicates increasing exposure across the Selfwealth platform, and was likely due to the rising interest rate environment increasing the relative appeal of cash.Near-record highs for the price of gold spurred elevated interest in several gold stocks, led by Northern Star Resources (ASX: NST). At one point last month, gold was trading at a 13-month high of roughly US$2,050 per ounce, offering a tailwind for precious metals producers and explorers alike. Nonetheless, with over 70% of all money flow in NST related to selling activity, it appears as though Selfwealth members opted to lock in profits as the stock reached a two-and-a-half-year high.Top 20 stocks traded by valueCode Security

Buy-Sell Ratio

1BHPBHP

48.1%

2PLSPilbara Minerals

45.2%

3WBCWestpac

51.9%

4FMGFortescue Metals Group

45.3%

5ANZANZ

41.4%

6AAABetashares Australian High Interest Cash ETF

68.6%

7VASVanguard Australian Shares Index ETF

54.7%

8MQGMacquarie Group

33.3%

9MINMineral Resources

53.7%

10CBACommonwealth Bank

42.2%

11TLSTelstra

4.2%

12WDSWoodside Energy

35.5%

13CXOCore Lithium

48.8%

14VGSVanguard MSCI Index International Shares ETF

52.7%

15BOQBank of Queensland

71.5%

16VDHGVanguard Diversified High Growth Index ETF

37.8%

17BBOZBetashares Australian Equities Strong Bear Hedge Fund

56.9%

18GEARBetashares Geared Australian Equity Fund

43.4%

19NABNational Australia Bank

50.9%

20NSTNorthern Star Resources

29.3%

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