The Top Stocks Politicians Are Buying and Selling This Week
Despite recent progress on a bill that would ban members of Congress as well as their spouses and dependent children from trading individual stocks, trading activity from lawmakers has been as active as ever.
The first trade of the week comes from Florida Rep. Laurel Lee. In a filing received by the Clerk of the House of Representatives on Aug. 5, Lee disclosed that she had sold 25 Apple (NASDAQ:AAPL) $230 call contracts expiring on January 2025. Lee may have reversed her opinion on AAPL stock, as she purchased 25 Apple $215 put contracts expiring on January 2025.
Lee’s trade comes amid Berkshire Hathaway’s (NYSE:BRK-A, NYSE:BRK-B) Warren Buffett disclosing that he had sold nearly half of his stake in the technology giant. This follows Berkshire selling 13% of its stake during the first quarter, with Buffett attributing the sale to tax-saving measures. That doesn’t appear to be the case anymore.
The Top Stocks Politicians Are Buying and Selling This Week
Lee took office in 2023 and has placed few trades since then. According to Quiver Quant, she also owns several other companies in her portfolio, such as Meta Platforms (NASDAQ:META), Bank of America (NYSE:BAC) and Qualcomm (NASDAQ:QCOM). In 2024, her buying volume has totaled an estimated $208,000 while her selling volume tallies in at $33,000.
Next up is Arkansas Sen. John Boozman, who disclosed a flurry of trades on Aug. 6.
On July 18, Boozman purchased between $1,001 and $15,000 of the Vanguard FTSE Developed Markets ETF (NYSEARCA:VEA) while selling between $1,001 and $15,000 of the SPDR S&P MidCap 400 ETF (NYSEARCA:MDY).
Then, on July 26, he purchased between $1,001 and $15,000 each of Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) and Motorola Solutions (NYSE:MSI). On the same day, he sold between $1,001 and $15,000 of Lam Research (NASDAQ:LRCX). His sale of LRCX stock is particularly interesting, as it has declined by nearly 10% since his sale amid a rout in the semiconductor industry.
Boozman has an extremely diverse portfolio and owns dozens of investments. His top holdings mainly consist of exchange-traded funds, such as the Goldman Sachs Access Investment Grade Corporate Bond ETF (NYSEARCA:GIGB) and the iShares MSCI EAFE ETF (NYSEARCA:EFA).
On the date of publication, Eddie Pan held LONG positions in AAPL, META and GOOGL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.