Europe

These ETFs allow copying trades made by lawmakers like Pelosi and Cruz

https://sputniknews.com/20220925/these-etfs-will-allow-you-to-copy-trades-made-by-lawmakers-like-pelosi-and-cruz-1101192304.html

feedback@sputniknews.com

+74956456601

MIA “Russia Segodnya”

2022

news

en_EN

sputnik international

feedback@sputniknews.com

+74956456601

MIA “Russia Segodnya”

https://cdnn1.img.sputniknews.com/img/07e6/09/11/1100910723_113:0:2844:2048_1920x0_80_0_0_dc98b3f1b7427682b646ca06fa56a5d2.jpg

sputnik international

feedback@sputniknews.com

+74956456601

MIA “Russia Segodnya”

usa, congress, stock market, nancy pelosi, ted cruse

usa, congress, stock market, nancy pelosi, ted cruse

apply

India

Every year, hundreds of millions of dollars are invested in the stock market by Congress. In December 2021, House Speaker Nancy Pelosi spoke out against banning the practice, calling it a “free market.” Months later, after much pressure, she greenlit a plan to ban the deal by members of Congress.

Stock trading by MPs and their spouses has come under scrutiny recently, with 70% of voters supporting a stock trading ban. It’s not hard to see why. Members of Congress have a large amount of insider information that other members of the market are not involved in, giving them an unfair advantage. Additionally, if we determine that our equity portfolio has higher priority than our constituents, it could affect our performance as an elected leader.

Since lawmakers have an unfair advantage in the market, can traders benefit from those advantages by emulating the trades that lawmakers make? cooperate, Two new exchange-traded funds (ETF) tickers NANC and CRUZ are named after Democratic House Speaker Nancy Pelosi and Texas Senator Ted Cruz, respectively.

If approved by the Securities and Exchange Commission, the ETF could become available in November after the midterm elections. The full names of the ETFs are Unusual Whales Subversive Demonstration Trading ETF and Unusual Whales Subversive Republican ETF. They invest in stocks based on public disclosure of transactions by Republican or Democratic congressmen and their spouses.

Subversive Capital charges a 1% management fee, while Unusual Whales charges no ETF fees.

Congressional deal, according to Unusual Whale, which compiled public information explode in 2021, outperforming 2020 deals by more than five times. Most of them beat the market. ETFs trade based on public disclosures by members of Congress.

While there is an idea to profit from the same benefits enjoyed by members of Congress, the real goal of the NANC and CRUZ ETFs is to make Congress aware of stock trading issues.

“Unusual Whales wants to drive change in politics. We are on the front lines [a] A political stock trading ban, and thanks to our efforts with others, is the closest the United States has ever come to a trading ban. We hope that it will increase,” they wrote on their website.

The House of Representatives could vote next week to ban stock trading, but only the framework of a possible bill has been released. Trading on the market is prohibited. The bill’s status is in question as Congress only has three days to vote next week. Democratic Rep. Pramila Jayapal supports banning stocks complained About not being informed about what was going on with the bill. “I can’t say I’m confident” She spoke of the possibility of a bill.
Former President Donald Trump speaks at the America First Policy Institute Agenda Summit at the Marriott Marquis in Washington, July 26, 2022. - Sputnik International, 1920, 24.09.2022

Trump reportedly in court battle to stop testimony on bid to overturn election loss

There is a similar bill in the Senate, but even if it does become law, it is unlikely to get a seat after November.

72 members of Congress were found to have violated the Congressional Knowledge Trading Suspension Act of 2012. The law was ostensibly created to prevent Congress from trading insider knowledge by timely disclosure of investments. Violations usually result in a fine of $200.



https://sputniknews.com/20220925/these-etfs-will-allow-you-to-copy-trades-made-by-lawmakers-like-pelosi-and-cruz-1101192304.html These ETFs allow copying trades made by lawmakers like Pelosi and Cruz

Back to top button