IOUpay and Zip were among the most traded ASX shares last week

James Mickleboro | March 9, 2021 3:30pm | More on: APT CSL IOU NDQ Z1P

Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

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Zip Co Ltd (ASX: Z1P)

For a fourth week in a row, this buy now pay later (BNPL) provider’s shares were the most traded on the CommSec platform. Zip shares accounted for 3.7% of trades last week, with approximately 60% coming from the buy side. Unfortunately, this wasn’t enough to stop the Zip share price losing 8% of its value over the five days. This was driven by weakness in the tech sector due to rising bond yields.

Afterpay Ltd (ASX: APT)

Afterpay was the next most traded share and attributable to 2.2% of total trades on the CommSec platform. Approximately 61% of these trades came from buyers. But as with Zip, this couldn’t stop the Afterpay share price from falling 3.5% last week. Once again, weakness in the tech sector appears to have weighed on its shares.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This exchange traded fund (ETF) was popular with investors once again. It accounted for 2% of trades on CommSec over the five days. A whopping 88% of these trades came from buyers. They may have been looking to take advantage of a recent pullback by the Nasdaq 100. The ETF fell 1% during the week.

IOUpay Ltd (ASX: IOU)

A new addition to the top five this week is Malaysia-based BNPL provider IOUpay. Its shares were responsible for 1.9% of trades on CommSec during the week. And while two-thirds came from buyers, the buying wasn’t strong enough to stop the IOUpay share price falling 10% over the five days. Last week IOUpay announced a partnership with leading online payment gateway, iPay88. The agreement will see the company provide BNPL services to iPay88 customers.

CSL Limited (ASX: CSL)

CSL shares were back in the top five after accounting for 1.4% of trades last week. And as with the others, although 79% of trades came from the buy side, it wasn’t enough to stop the CSL share price sliding 5% lower. Part of this decline was due to CSL’s shares trading ex-dividend for its interim dividend. That will now be paid to eligible shareholders on 1 April.