Welcome to the November 2023 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, buy trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual stocks, buy trades were led by Pilbara Minerals (ASX: PLS), which continues to be targeted by short-sellers. Over the same period, sell trades were led by BHP (ASX: BHP) and Fortescue Metals (ASX: FMG), both of which saw their share prices rise throughout November.

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Pilbara Minerals (ASX: PLS)

• Short-sellers make huge bets against Pilbara Minerals
• Pilbara Minerals rumoured to be buying shares of Azure Minerals
• Share price has dropped 26% over the past six months

Woodside Energy (ASX: WDS)

• Woodside CEO appears in court over violence restraining orders against climate activists
• Woodside blames poor customer uptake for slow progress on clean energy goals
• CEO warns regulation uncertainty could jeopardise WA’s energy security

Macquarie Group (ASX: MQG)

• Macquarie cuts jobs as tech expenses grow
• Number of financial advisers declines, led by Macquarie Group
• Macquarie Group purchases 15% stake in insurance platform The Envest Group

BHP (ASX: BHP)

• Leading broker sees upside for BHP shares due to higher-than-expected iron ore prices
• BHP share price up 10% in a month
• Could BHP dividends rebound in 2024?

Westpac (ASX: WBC)

• Westpac is the weakest of the big banks, says analyst
• Westpac releases strong earnings report; announces share buyback
• Share price rises on strong earnings, big dividend and AU$1.5 billion share buyback

ANZ (ASX: ANZ)

• ANZ posts record annual profit amid rising interest rates
• ANZ shares plummet as latest earnings fall short of expectations
• ANZ still analysts’ preferred bank stock despite profit miss

Fortescue Metals (ASX: FMG)

• Fortescue share price rises 11% in two weeks, likely due to rising iron ore prices and strong demand expectations
• Plans to invest AU$1.14 billion in green hydrogen projects over the next three years
• Fortescue share price hits two-year high

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