Many citizens across the nation feel that U.S. lawmakers have an inside read as it pertains to stock market moves. So Unusual Whales filed for two exchange traded funds that seek to capitalize off the holdings based on the personal portfolios of U.S. lawmakers via their financial disclosure reports.
The two ETFs that were filed with the Securities and Exchange Commission are the Unusual Whales Subversive Democratic Trading ETF (NANC) and the Unusual Whales Subversive Republican Trading ETF (KRUZ).
NANC plans to invest in equity securities of companies that sitting Democratic members of United States Congress and/or their spouses have reported to have invested in through public disclosure filings.
KRUZ on the other hand plans to invest in equity securities of companies that sitting Republican members of United States Congress and/or their spouses have reported to have invested through public disclosure filings.
Moreover, both ETFs intend to be actively managed and are each attached with a 1.00% expense ratio.
Momentum has grown stronger as people ask that stock trading of sitting U.S. representatives and senators along with their families become regulated on a deeper level. Sparking some of the demand for stricter regulations have been brought on as Paul Pelosi, husband of House Speaker Nancy Pelosi disclosed that he purchased millions of dollars’ worth of call options this year in organizations such as Microsoft (MSFT), American Express (AXP), Apple (OTC:APPL), NVIDIA (NVDA), Walt Disney Company (DIS) as well as other big names.
At the moment, members of congress are obligated to reveal any securities dealings of more than $1,000 that has been conducted by either themselves or their spouses within 45 days. As a result, the ETF issuer plans to take this pooled data in constructing the portfolio of both each exchange traded funds.
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