New Funds Would Allow You To Invest Like Congress Members
(RightWing.org) – On September 16, Right Wing reported that an investigative review of government records revealed 97 members of Congress or their family members reported stock purchased in 2019 and 2020 that overlapped with legislative work conducted by their assigned committees. A registered investment company called Series Portfolios Trust recently applied for approval for new funds to allow individuals to invest like Congress members.
The Milwaukee-based company filed a form N-1A Registration Statement with the US Securities and Exchange Commission on September 15 to register two new exchange-traded funds (ETFs). For those unfamiliar with ETFs, they’re a kind of pooled investment securities structured to track the price of commodities and “specific investment strategies.”
In this instance, the ETFs will base investment strategies on equity security purchases made by sitting Democratic and Republican lawmakers and their spouses using required filings submitted to the Senate Office of Public Records and the House of Representatives Clerk.
Do you want to trade with Pelosi and other "insiders"?
2 new ETFs allow you to do just that:
– Unusual Whales Subversive Democratic Trading ETF (NANC)
– Unusual Whales Subversive Republican Trading ETF (KRUZ) https://t.co/K3xQAAF873— Mark Moss (@1MarkMoss) September 21, 2022
Subversive Capital Advisor LLC will operate as the ETFs’ investment advisor and will buy and sell securities based on the investment patterns initiated by Congressional members.
The ETF tracking securities transactions made by Democrats will use NANC, short for House Speaker Nancy Pelosi (D-CA), for its stock ticker. The Republican one will use KRUZ, representing Sen. Ted Cruz (R-TX). However, in all fairness, Capitol Trades shows the speaker made 77 securities trades since January 2020, and the Texas senator only had 2 since November 2019.
Series Portfolios Trust’s proposed effective date is the statutory 75 days from its September 15 filing, provided the SEC approves the registration statement.
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