By Fintel. Originally published at ValueWalk.
Below you will find the total share of the fund flows dedicated to each security.
Top 5 Purchased Securities This Week:
- Surgery Partners Inc (NASDAQ:SGRY)
Last week, retail investors on Fintel bought the 16.5% dip in SRGY shares. The company’s stock is off 40% in 2022, bringing the company’s market cap value down to $3 billion. Surgery Partners has over 180 locations across the U.S. and operates in two primary segments; surgical facility services and ancillary services.
SGRY has a wide range of coverage across various institutions that attribute, on average, an ‘overweight’ recommendation and a consensus target price of $64, which implies a 93% upside to the current share price. Despite the slashed share price, analyst targets have remained firm above $60.
- Mullen Automotive Inc (NASDAQ:MULN)
Shares in U.S. electric vehicle manufacturer Mullen Automotive sank 10% over the past week, giving back some of the previous week’s 30% gain triggered when the company released positive battery test results. While the last two weeks saw a spike in investor interest, Mullen’s shares are down 80% year to date, leaving the company’s market capitalization at about $400 million. Also, last week, MULN said it would join the Russell 2000 and 3000 indexes on June 27th.
- SPDR S&P 500 ETF Trust (NYMARKET:SPY)
SPY, a popular ETF designed to track the Standard & Poor’s 500 Index’s performance, was popular with retail investors last week. The shares rose 32 slots on Fintel’s list of most popular stocks among retail investors listing their portfolios on the platform to 82.
Investors bought the SPY units after the price fell 5% last week to support levels observed throughout the middle of May.
- Microsoft Corporation (NASDAQ:MSFT)
Tech giant Microsoft couldn’t avoid last week’s selloff that trimmed 6.3% from its shares price, surpassing the broader Nasdaq’s 5.6% slide. MSFT shares fell 24.4% this year but remain flat on a trailing 52-week view. Microsoft trimmed its fourth quarter to reflect unfavorable exchange rates. The tech giant trimmed its revenue forecast by 0.8% change to revenue forecasts, cut its operating income outlook by 1.4% and revised its earnings per share target down 1.8%. MSFT also announced that they are reducing Russian operations, with over 400 staff expected to be affected. MSFT said it would suspend new sales in the region but would fulfill existing customer contracts.
Analysts remain bullish on the company’s future, maintaining an average ‘buy’ rating and $355 consensus price target, implying a 40% upside. The consensus target has remained above $350 throughout 2022 while the share price has weakened.
- iShares MBS ETF (NASDAQ:MBB)
MBB returns this week after being the 4th most purchased security on the platform last week. The MBB ETF tracks a market-weighted index of investment-grade mortgage pass-through securities. The product provides exposure to a broad range of U.S. mortgage-backed bonds, including those issued by government-sponsored enterprises such as Ginnie Mae, Fannie Mae, and Freddie Mac.
The ETF’s price slid -1.5% over the week and brought the year-to-date return to capital return to -9.3%.
The MBB ETF has a current annual dividend yield of 1.99%
Top 5 Sold Securities This Week
- Energy Transfer LP (NYSE:ET)
Energy Transfer owns and operates a portfolio of energy assets, including almost 12,000 miles of energy pipelines and several storage facilities across North America. Its shares benefit from rising energy costs and are 40% above their $7.96 52 week low last December.
In June, Energy Transfer signed a 25 year term sale and purchase agreement to supply liquefied natural gas (LNG) to China Gas Hongda Energy with prices indexed to the Henry Hub benchmark plus a fixed liquefaction charge.
ET reported first quarter results in early May that beat analyst sales and profit expectations. The company also posted stronger than expected full year profit and capital spending numbers.
Analysts give the shares a consensus ‘buy’ rating and an average $15.40 price target, implying a 30% upside. The consensus target has drifted consistently higher over the last two years.
- Direxion Daily Technology Bear 3X Shares ETF (NYMARKET:TECS)
The Direxion Daily TECS ETF uses derivative instruments to provide a three-times leveraged short exposure to the S&P Dow Jones technology index. The TECS ETF rallied 20% this week and has moved 76.3% higher since the beginning of 2022.
Investors sold the ETF this week to book profits in a position many investors were using as a hedge against high growth technology positions in the portfolio.
- iShares iBoxx $ High Yield Corporate Bond ETF (NYMARKET:HYG)
The iShares iBoxx ETF seeks to track investments in the high-yield corporate bond sector. The HYG ETF fell 5.7% this week and has been down 13% since the beginning of the year.
The ETF has a one year trailing annual yield of 4.60%, with an average yield to maturity (YTM) across the portfolio of 7.23%. The higher yield to maturity figure suggests that many corporate bonds are trading below par.
- Meta Platforms Inc (NASDAQ:META) (Formerly Facebook – FB)
META‘s shares dropped 8% during the week and 48% for all 2022. META is the worst mega cap tech performer this year as it has faced significant regulatory scrutiny and has come under threat from the newly popular platform Tik Tok. The recent popularity of the rival social media platform has forced META to pivot its business toward short video format.
In June, a Bloomberg News report suggested that Meta halted production of its dual-camera smartwatch is designed to compete with the Apple watch. The firm indicated that they would focus on other wrist devices.
META’s consensus rating remains at ‘overweight’ with a target of $284, suggesting a 63% upside. The consensus target has significantly fallen from over $400 last year.
- ProShares UltraShort 7-10 Year Treasury (NYMARKET:PST)
The PST ETF invests in securities that provide a two times inverse performance of the U.S. Treasury 7-10 year bond index.
PST rallied 3.5% this week and has gained 24.7% since the start of 2022, providing investors with an opportunity to profit from the rate hiking cycle.
Top 10 Most Widely Held Securities This Week On The Fintel Platform:
The Fintel Retail Ownership shows the most popular securities held by Fintel users linked to their broker accounts. This list is based on actual ownership records from broker accounts.
Aterian held onto the first spot this week while the market share rose to 5.61%, from 5.35% in the week prior.
This week, Amazon moved up into the top 10 after completing a 20-for-1 stock split that saw shares rebase to just over $100.
Article by Ben Ward, Fintel
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