Most-bought investments: November 2024

• MicroStrategy, Nvidia and Tesla were the top three most-bought stocks in November following US election buzz
• Investors’ appetite returns for tech companies, as JP Morgan American and Polar Capital Technology enter the list for investment trusts
• Fundsmith Equity was not included in our most-bought funds list for the second consecutive month.

interactive investor, the UK’s second-largest platform for private investors, reveals its most-bought equities, funds and investment trusts in November 2024.

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November saw MicroStrategy Inc Class A (NASDAQ:MSTR) lead the list for the most-bought equities, as ii investors look to jump on the crypto train following a boom after Trump’s US election win. US companies NVIDIA Corp (NASDAQ:NVDA) and Tesla Inc (NASDAQ:TSLA)also jumped up one spot in November, to second and third place respectively.

While investors have exercised caution when it comes to tech over the last few months, their appetite seemed to return in November – with JPMorgan American Ord (LSE:JAM) and Polar Capital Technology Ord (LSE:PCT) entering our most-bought investment trusts’ list. 

Fundsmith Equity didn’t make it back into our most-bought funds’ list in November for the second consecutive month. 

Below, interactive investor’s experts explore November 2024’s most-bought data in more depth.

Funds and investment trusts

Commenting on the most-bought funds and trusts on ii in November, Kyle Caldwell, funds and investment education editor at interactive investor, says: “Investors still have a large appetite for US equities and its technology behemoths. This is reflected by JPMorgan American and Polar Capital Technology being new entrants to our top 10 most-bought investment trust table in November. JPMorgan American holds a mixture of value and growth stocks, but technology stocks are firmly in favour with five of the ‘Magnificent Seven’ comprising its top five holdings: Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Nvidia, Meta Platforms Inc Class A (NASDAQ:META) and Apple Inc (NASDAQ:AAPL). 

“Polar Capital Technology, which returns in 10th place, having last appeared in the rankings in September, describes its approach as playing on structural and secular trends that offer genuine long-term growth potential. Five Magnificent Seven stocks are in its top six holdings: Nvidia, Microsoft, Meta Platforms, Apple and Alphabet Inc Class A (NASDAQ:GOOGL). The other stock in the top six is Taiwan Semiconductor Manufacturing Co Ltd ADR (NYSE:TSM).

“Longstanding fund manager Ben Rogoff has been at the helm since 2006. The trust adopts a conservative approach to a high-growth sector by being “benchmark aware”, meaning that it tends not to stray too far from what its technology stocks’ benchmark looks like. Among our most-bought funds, a continuation of the trend is shown through Vanguard US Equity Index £ Acc moving up six places to fourth. 

“Also of note is that for the second consecutive month, Terry Smith’s Fundsmith Equity fell outside the top 10 monthly most-bought funds’ list. Fundsmith Equity’s performance has suffered due to not owning artificial intelligence darling Nvidia, which recently overtook Apple to become the world’s biggest company.” 

Equities

Commenting on the most-bought stocks on ii in November, Richard Hunter, head of markets at interactive investor, says: “A US election which dominated the newswires and helped propel a post-election rally was reflected in the most-bought list for ii in November, with the top three stocks all being quoted stateside.

“MicroStrategy, a stock which is effectively a highly leveraged play on Bitcoin and which has risen by 74% over the last month, was the most-bought investment as investors sought to ride the wave of the crypto, which is seen as being a beneficiary of lower regulation in the new regime. There was also a place for Tesla, with its connections to the new regime via the Elon Musk/Trump partnership, and where the shares have added 42% over the last month.

“Continuing the momentum theme was another appearance for Nvidia, where ii investors have been recently been tracking the stock’s meteoric rise. Set against extremely high expectations, the company delivered another strong update in November, taking the share price rise in the year to date to 187%, and 204% over the last year.

“Nearer to home, investors bought into stocks where they believed recovery potential is in play. John Wood Group (LSE:WG.), an engineering energy services company found within the Oil & Gas sector, has seen its shares decline by 68%, which has attracted some buying interest.

“FTSE 100 pharmaceutical company AstraZeneca (LSE:AZN), meanwhile, has had a poor recent run following reported government investigations in China which include allegations of medical insurance fraud, illegal drug importation and personal information breaches. The group has responded by offering its willingness to cooperate with the authorities while remaining committed to delivering medicines to Chinese patients, but the potential costs and length of time arising from such investigations have been a concern for investors and the shares have fallen by 14% in the year to date.

“Elsewhere, the usual suspects were in play for ii investors. There was more evidence of chasing momentum in the form of Rolls-Royce Holdings (LSE:RR.), where shares are up by 89% this year and also for the usual list of stocks whose dividend yields are of interest to income-seeking investors. Legal & General Group (LSE:LGEN) is currently yielding 9.3%, and was joined on the list by the likes of Lloyds Banking Group (LSE:LLOY) (5.5%) and GSK (LSE:GSK) (4.6%).”

MOST-BOUGHT INVESTMENTS ON INTERACTIVE INVESTOR (ii) IN NOVEMBER 2024