Nancy Pelosi Buys Broadcom, Adds NVIDIA Shares, Partially Unloads Visa, And Dumps Tesla
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Perhaps in a bid to avoid a media spectacle, Nancy Pelosi - a leading Democrat who is famous for her supposed knack for generating alpha in the market - has disclosed a slew of new trades just ahead of the 04th of July holiday in the US. However, as per the initial frenzy on the X social media platform in the immediate aftermath of these disclosures, Pelosi's tactical timing appears to have failed to stave off a deeper scrutiny.
As per the Periodic Transaction Report filed with the Clerk of the House of Representatives, Nancy Pelosi has purchased Broadcom call options as well as 10,000 NVIDIA shares. Additionally, she has reduced her Visa stake by 2,000 shares and dumped 2,500 Tesla shares.
Related Story You Will Soon Be Able To Replicate The Stock Trades Of Nancy Pelosi And Other Congress Members Via The Tuttle Capital Congressional Trading ETF
In addition to physical shares, Nancy Pelosi also remains long on 500 NVIDIA calls (LEAPS) with a $12 strike price.
Do note that Nancy Pelosi has retained a long exposure to Visa since its IPO. More recently, however, the ranking Democrat has been gradually reducing her stake in the company.
Given the significant retail interest in following Congressional trades, especially those of Nancy Pelosi, Tuttle Capital has applied to the SEC to launch the Tuttle Capital Congressional Trading ETF, which will aim to primarily invest "in equity securities of companies that sitting members of United States Congress and/or their spouses also have reported to have invested in through public disclosure filings made by such Congresspersons pursuant to the Stop Trading on Congressional Knowledge Act (“STOCK Act”)."
The ETF is expected to launch by August 2024. As far as its modus operandi is concerned, the passive investment vehicle will take into account each Congress member's seniority, involvement in
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