For the trailing eight weeks ended Sept. 30, purchases accounted for about 67 percent of transactions for clubs with myICLUB.com accounts. That’s a percentage point up from the Sept. 1 level and continues the upward trend of the past several months.
Gilead Sciences (GILD) has continued to attract large numbers of transactions by clubs. The trailing eight weeks saw 50 buys versus 7 sells. In October the company received FDA approval for its new hepatitis C virus combination treatment, Harvoni. This is expected to provide a shot in the arm for revenues, as a 12-week treatment will cost $95,000.
Clubs snatched up the initial public offering stock of GoPro (GPRO), the manufacturer of wearable video cameras. Clubs recorded 27 buys and 3 sells for the trailing eight weeks. BetterInvesting clubs typically look for stocks with five years of financial history, but at times they’ll consider stocks that have less history.
The stock had soared from the low $30s to above $90 before falling to the low $70s in mid-October. Such is the life of an IPO.
For the eight weeks through Sept. 30, here are the 10 stocks most commonly transacted by investment clubs:
- Apple (AAPL): 172 buys, 42 sells
- Cognizant Technology Solutions (CTSH): 60 buys, 15 sells
- McDonald’s (MCD): 27 buys, 38 sells
- Verizon (VZ): 54 buys, 7 sells
- Qualcomm (QCOM): 32 buys, 27 sells
- Gilead Sciences (GILD): 50 buys, 7 sells
- Kinder Morgan (KMI): 47 buys, 3 sells
- General Electric (GE): 28 buys, 21 sells
- Cisco (CSCO): 21 buys, 21 sells
- Aflac (AFL): 13 buys, 29 sells