The calls to ban members of Congress from buying and selling stocks and options have grown over the years.
One of the most followed members of Congress for stock trading activity is former Speaker of the House Nancy Pelosi(D-Calif.), thanks to the large purchases made by her husband Paul Pelosi.
What Happened: Pelosi disclosed several new stock trades on Wednesday, ahead of the Fourth of July holiday, continuing a recent tradition of reporting trades around market holidays.
The transactions, as reported by Benzinga's Government Trades page, are as follows:
“Prediction fulfilled!!!,” Congresstrading tweeted. “She always reports right before a holiday to avoid media coverage, but she is actually becoming MORE predictable this way.”
Pelosi previously disclosed buying call options in Nvidia valued at $1 to $5 million ahead of the Christmas holiday, with the filing coming on the Friday before Christmas.
The Congresswoman has often filed stock disclosures on Fridays or around holidays.
Read Also: 10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)
Why It's Important:Pelosi's husband Paul Pelosi is a venture capitalist who regularly makes sizable stock and options purchases.
The former Speaker of the House has said she does not share stock tips or inside information with her husband, but the timing of several trades has drawn scrutiny from investors.
The Visa shares sold were listed as partial, which means the couple still owns shares of the credit card company. It was reported several years ago on “60 Minutes” that the Pelosis participated in the Visa IPO, securing 5,000 shares at an IPO price of $44. The Visa transaction drew red flags at the time, with the company's headquarters located in Pelosi's home district.
Increased interest in Congress trading activity, which has outperformed leading market indexes in some years, has led to several ETFs launching.
The Series Portfolios Trust Unusual Whales Subversive Republican Trading ETFKRUZ and Series Portfolios Trust Unusual Whales Subversive Democratic Trading ETF NANC track the trading activity of Republican and Democratic members of Congress, respectively.
A new ETF is also on the way from Tuttle Capital that will combine trades from both parties, and base holdings on the trading accuracy and performance of members of Congress and their committee assignments.
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