Nancy Pelosi, the well-known "stock god" on Capitol Hill and former U.S. House Speaker, disclosed her husband Paul Pelosi's recent stock transactions.
According to a financial disclosure form filed with the House of Representatives on July 30, Paul bought more Nvidia (NVDA) shares and reduced his holdings in Microsoft (MSFT) shares in the previous week.
According to the disclosed information, Paul, a professional investor, made the following transactions on July 26:
Buy 10,000 shares of Nvidia stock, with a transaction value between $1 million and $5 million.
Selling 5,000 shares of Microsoft stock in a transaction valued between $1 million and $5 million.
The announcement comes just weeks after the Pelosi couple also disclosed multiple stock transactions, with the last disclosure showing Paul bought 10,000 shares of Nvidia in late June.
The trading activities of members of Congress and their spouses have come under fire in recent years, with some calling for a ban on members of Congress trading individual stocks because they may have sensitive or non-public information.
And Pelosi has long resisted calls for such legislation.
In December 2021, Pelosi responded to the idea of a possible ban on stock trading by saying, "We are a free market economy. They (members of Congress) should be allowed to participate in it." In July 2022, Pelosi denied the claim that her husband made stock trades based on information she shared. Pelosi said, "Absolutely not."
But Pelosi has since softened her stance on such legislation and indicated a willingness to support a law restricting members of Congress from buying and selling individual stocks.
Earlier this month, a bipartisan group of senators introduced a new bill that would ban members of Congress from trading stocks, called the ETHICS act, as an amendment to an existing ban on stock trading.
Fund companies are tracking Pelosi’s trades, as well as those of other members of Congress and their family members, leading to the creation of several ETFs that buy and sell shares of members of Congress. So far, the performance of these funds has been impressive.
Article forwarded from: Jinshi Data
