Saturday, September 23, 2023
HomeNewsNancy Pelosi Now Has an ETF Ticker Named After Her

Nancy Pelosi Now Has an ETF Ticker Named After Her

Nancy Pelosi Congress Stock Trades NANC ETF

Even though Nancy Pelosi’s stellar stock-picking skills seem to have faltered lately, as evidenced by the fact that the famous Democrat reportedly registered a loss of 19.8 percent in 2022, just slightly exceeding the loss of 19.44 percent that the benchmark S&P500 index registered during the year, the former House Speaker remains a potent alpha-generating machine.

Toward the start of 2023, Unusual Whales published an exhaustive report on the stock trading performance of US Congress members during 2022. Unsurprisingly, most US House members managed to beat the market by a long shot. As illustrated by Unusual Whales in the tweet above, an average Republican House member was up 0.38 percent in 2022, while a typical Democrat House member was down 1.76 percent during the same period. For reference, the benchmark SPY ETF was down 18.2 percent during the year.

Nancy Pelosi has long attracted attention for her ability to time the market. However, in 2022, many of the deep-in-the-money options bought by the Pelosis expired at a loss, leading to this rather unremarkable performance for 2022.

Given her largely stellar track record, we are not surprised that Nancy Pelosi has finally served as the inspiration for the ticker symbol of an ETF. To wit, Unusual Whales has now collaborated with Subversive Capital to offer two dedicated ETFs that track the stock trades of Democratic and Republican Congress members.

The Subversive Unusual Whales Democratic ETF, bearing the ticker symbol NANC, aims to “invest in equity securities purchased or sold by Democratic members of Congress and their spouses.” Similarly, the Subversive Unusual Whales Republican ETF, bearing the ticker symbol KRUZ, aims to replicate the stock trades of all Republican Congress members.

Readers should note that these ETFs will replicate all stock trades as reported by Congress members in their mandatory Periodic Transaction Report filings. Nonetheless, we have a sobering observation for those looking toward these ETFs as an easy method of generating market-beating returns. The stock trade disclosures of Congresspersons are usually not filed until at least 30 days have passed since the date of the transaction. This means that these ETFs are very likely to underperform the market.

Nonetheless, we consider the creation of these ETFs as an important step in highlighting the potential for conflict of interest that almost all Congresspersons face, including Nancy Pelosi. Perhaps, these ETFs might generate sufficient spotlight for Congress members to finally implement a complete stock trading ban.

The post Nancy Pelosi Now Has an ETF Ticker Named After Her by Rohail Saleem appeared first on Wccftech.

- Advertisment -

Most Popular

Recent Comments