10 hottest ISA shares, funds and trusts: week ended 14 June 2024
We reveal the 10 most-popular shares, funds and investment trusts added to ISAs on the interactive investor platform during the past week.
17th June 2024 13:10
by Lee Wild from interactive investor
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With the new tax year under way, we look at the investments ii customers have been buying within their ISAs during the previous week. The data includes only real-time trades, not regular investing instructions, and combines the use of both existing funds and new money.
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Top 10 shares in ISAs
Company name | Place change | |
1 | Up 6 | |
2 | Up 1 | |
3 | New | |
4 | New | |
5 | Up 5 | |
6 | Down 5 | |
7 | Up 2 | |
8 | Down 6 | |
9 | Down 3 | |
10 | Down 5 |
Legal & General Group (LSE:LGEN) raced to the top of the most-bought table last week, up six places following a negative reaction to the insurer’s capital markets day.
As ii analyst Keith Bowman reported last week, chief executive António Simões, who joined L&G in January, outlined a refreshed strategy which included plans for a £200 million share buyback this financial year. The total 2024 dividend payment will rise by 5% followed by 2% annual increases and similar share buybacks in 2025, 2026 and 2027, subject to market conditions.
A day later, Graeme Evans wrote for ii about a mixed reaction in the City, although one analyst believed it was a case of taking some short-term pain for long-term gain.
L&G shares were down more than 8% in the days following the news at prices not seen since November 2023. That seems to have attracted investors keen to lock in a dividend yield of around 9.5%.
Among the small-caps, Helium One Global Ltd Ordinary Shares (LSE:HE1) makes its first appearance in the top 10 since mid-March when it was drilling for helium in Tanzania. During late January/early February, the shares surged 1,800%, but have since dropped back from a high of 3.7p to just 0.5p last week.
The slump was a reaction to the company’s decision to raise £8 million by issuing 1.6 billion Helium One shares at 0.5p each – a discount of more than 56% to the previous day’s closing price of 1.15p. It’s encouraging to see the fundraise was oversubscribed, but it took a big discount to get the money in.
“These funds will enable us to fulfil the next crucial phase of the company's development including the deepening of Itumbula West-1 and the execution of the [extended well test],” said chief executive Lorna Blaisse. “Which, combined with the successful award of the Mining License, will allow us to commence development phase for the first helium project in Tanzania."
Eurasia Mining (LSE:EUA) is also back in the news after a quiet few months. At the beginning of June, shares in the palladium, platinum, rhodium, iridium and gold mining company traded at 1.4p. After advancing beyond 2p, they spiked to 7.5p on Monday 10th June, which triggered an announcement from the company that said it noted “online speculation regarding the Definitive Feasibility Study for the Monchetundra project in the Kola peninsula northwest Russia (the ‘Monchetundra DFS’).”
“The company wishes to reiterate that the Monchetundra DFS was completed in 2023 and whereas work has continued at site to keep the ground in good standing, there have been no material developments regarding the Monchetundra DFS since the company's announcement of 3 July 2023.
“The primary focus of the company remains the possible sale of its Russian assets although, as ever, there can be no guarantee that Eurasia will enter into binding agreements regarding the sale.”
Despite dropping back briefly to 1.6p, they ended last week at 2.6p.
Elsewhere, now that the rights issue has past, National Grid (LSE:NG.) has dropped down the top 10 list. So have BP (LSE:BP.), GameStop Corp Class A (NYSE:GME) and Vodafone Group (LSE:VOD). And, for a second week, there’s no place in the top 10 for Lloyds Banking Group (LSE:LLOY).
Top 10 funds and trusts in ISAs
Company name | Place change | |
1 | Up 2 | |
2 | Up 7 | |
3 | Down 1 | |
4 | Up 2 | |
5 | Unchanged | |
6 | New | |
7 | Up 1 | |
8 | Down 7 | |
9 | Down 5 | |
10 | New |
A storming week for technology stocks thrust Legal & General Global Technology Index Trust into the top spot once again.
Rising two places, the tracker fund was the most bought fund or investment trust in ISAs last week. It rose 5.7% over the five trading days, taking its gains year-to-date to a staggering 27%, making it one of the top-performing funds available to ii customers.
Considerable positions in artificial intelligence winners Nvidia, Microsoft and Apple have helped power it higher.
Greencoat UK Wind was another big riser, up seven places to second position. The income-focussed trust yields 7.5%.
Other risers were Scottish Mortgage Ord (LSE:SMT) (up two places to fourth), Fundsmith Equity I Acc (B41YBW7) (up one place to seventh), while HSBC FTSE All-World Index C Acc (BMJJJF9)is a re-entry after dropping out of the top 10 for a week, while HICL Infrastructure makes its first appearance, buoyed by favourable comment in the financial press.
Dropping in popularity were Vanguard LifeStrategy 80% Equity A Acc (B4PQW15), Jupiter India I Acc (B4TZHH9) and JPMorgan Global Growth & Income Ord (LSE:JGGI), while Royal London Short Term Money Market held onto fifth place.
Alliance Trust Ord (LSE:ATST) and City of London Ord (LSE:CTY) dropped off the most bought list.
Funds and trusts section written by ii’s Sam Benstead.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
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