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Nancy Pelosi remains one of the most followed members of Congress when it comes to the disclosure of stock and options trades.
The former House speaker disclosed the purchase of more NVIDIA Corporation (NASDAQ:NVDA) shares this week.
What Happened: Pelosi disclosed two stock trading positions during the week, with the purchase of additional Nvidia shares and the sale of a portion of Microsoft Corporation (NASDAQ:MSFT) shares owned, as reported by Benzinga's Government Trades page.
Pelosi, a Democratic congresswoman from California, disclosed buying $1 million to $5 million in Nvidia shares with the subject line stating that 10,000 shares were purchased. The trade was made on July 26. Pelosi’s disclosed trades are made by her husband Paul Pelosi, who is a venture capitalist.
The filing also disclosed selling $1 million to $5 million in Microsoft shares, with the subject line stating that 5,000 shares were sold. The trade was made on July 26, several days before the technology company reported fourth-quarter financial results.
Pelosi previously disclosed buying 10,000 Nvidia shares valued at $1 million to $5 million in early July along with the sale of Tesla Inc (NASDAQ:TSLA) shares. The congresswoman and her husband also disclosed buying 50 call options of Nvidia back in November 2023 that have risen significantly in value since the filing.
Pelosi previously disclosed selling 25,000 Nvidia shares back in July 2022 at a loss of $341,365. As Benzinga has previously reported, holding onto the shares would have turned into millions of dollars in profits had they held onto the stake. The sale was completed after Pelosi came under public scrutiny over the timing of the trade, related to its proximity to the passage of the CHIPS Act and a trip to Taiwan.
Did You Know?
Why It's Important: Congressional trading activity remains a key area watched by retail traders, given the past performance of several members, including Pelosi.
The Series Portfolios Trust Unusual Whales Subversive Republican Trading ETF (BATS:KRUZ) and the Series Portfolios Trust Unusual Whales Subversive Democratic Trading ETF (BATS:NANC) track the trading activity of Republican and Democratic members of Congress, respectively.
A new ETF is also on the way from Tuttle Capital that will combine trades from both parties, and base holdings on the trading accuracy and performance of members of Congress and their committee assignments.
A bill to ban trading by members of Congress is currently working its way through the legislative body and could change what happens in the future.
NVDA Price Action: Nvidia shares are up 11% to $115.15 on Wednesday. Nvidia stock has risen 131% year-to-date in 2024.
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