Investors looking to copy the trading activity of members of Congress will soon have another option with a new exchange-traded fund (ETF) filed by Matthew Tuttle, who famously launched ETFs that bet against Jim Cramer and Cathie Wood.
What Happened: The new Tuttle Capital Congressional Trading ETF (NYSE:NPEL) was filed Wednesday and could be active in August 2024 giving investors a new way to actively monitor the trading activity of members of Congress,
Benzinga actively tracks the trading activity of members of Congress, particularly Nancy Pelosi, whose husband Paul Pelosi is a venture capitalist who trades large positions in stocks (our government trades page can be found here).
Tuttle Capital Congressional Trading ETF will be an actively managed ETF that invests in equities bought by members of Congress and their spouses.
"Members of Congress are permitted to actively trade stocks, options and other financial assets, including securities of companies that may be affected by the outcomes of legislative and executive meetings in which those members of Congress participated," the filing said.
The ETF will take into account the historical performance of members of Congress, their respective Congressional committees and their seniority ...Full story available on Benzinga.com
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