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Investing.com -- Retail investors tracked by Charles Schwab (NYSE:SCHW)’s Trading Activity Index (STAX) bought shares of Nvidia (NASDAQ:NVDA) in July after selling the stock in June, according to new data.
The STAX rose for the second consecutive month, though by less than 3%, remaining low in its historical range. While clients continued to be net sellers of information technology stocks overall, they reversed course on Nvidia, making it their top buy.
Nvidia’s popularity among retail investors may have been driven by Alphabet’s (NASDAQ:GOOGL) increased capital spending plans announced in late July, which could benefit Nvidia’s business. The chip maker’s mid-July announcement that it would be allowed to sell its H20 chip in China after previous U.S. export restrictions likely also boosted investor interest.
Tesla (NASDAQ:TSLA) ranked as the second most bought stock in July, continuing its strong showing from June when it led purchases. Despite a disappointing earnings report, Tesla shares quickly rebounded in the final week of the period. The 200-day moving average, near $318 by month-end, appeared to serve as a key entry and exit point for traders.
Palantir (NYSE:NASDAQ:PLTR) fell to third place after ranking second in June. Early July buying interest was particularly strong, with the stock leading all net buys during the first week of the period.
Amazon (NASDAQ:AMZN) and UnitedHealth (NYSE:UNH) rounded out the top five buys. UnitedHealth attracted interest despite ongoing fundamental concerns, with shares ending July near $263, about $200 below its 200-day moving average.
On the selling side, Apple (NASDAQ:AAPL) replaced Nvidia as the most sold stock in July. Ford (NYSE:F) also saw consistent selling throughout the month, possibly due to concerns about U.S. tariffs against Canada and Mexico affecting production and parts sourcing.
Advanced Micro Devices (NASDAQ:AMD) led all stocks in net selling during the final week, potentially due to profit-taking ahead of early August earnings.
Boeing (NYSE:BA) and Nike (NYSE:NKE) also experienced significant selling. Boeing shares were sold ahead of earnings, which proved timely as the stock dropped more than 8% following the announcement. Nike selling was strongest early in the month after a 20% post-earnings rally in late June.
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