May 31 (Reuters) - The rally in the shares of Nvidia Corp (NVDA.O) that briefly propelled its market value to the trillion-dollar club saw little participation by retail traders, data showed, the latest sign they were turning cautious due to growing recession fears.
Retail buying in Nvidia shares on an average nearly halved to $27.9 million in May compared to February, Vanda Research data showed, even as it remained the fourth most-traded stock by individual investors.
After a record net buying in U.S. stocks the first quarter, retail investors have largely remained on the sidelines amid stresses in the banking sector and signs of an economic slowdown.
The total value of the stock traded by retail investors surged to $2.5 billion last Thursday, but still net purchases remained marginal at $43 million, Vanda Research said.
J.P.Morgan data showed Nvidia was the third most traded stock by retail investors but the buy and sell orders were nearly even, indicating lower retail interest than in the first quarter.
Persons:
Lucas Mantle, Mantle, Tesla, Morgan, Vanda, Medha Singh, Vansh Agarwal, Lance Tupper, Arun Koyyur
Organizations:
Nvidia Corp, Vanda Research, Retail, Nvidia, U.S, Thomson
Locations:
Bengaluru