Representative Nancy Pelosi, the Speaker of the U.S. House of Representatives, disclosed stock trades made by her husband, Paul Pelosi, last month. Paul Pelosi, who is an investment professional, increased his exposure to the AI sector by purchasing shares of Nvidia and call options on Broadcom, according to a disclosure filed by Nancy Pelosi on Tuesday. The trades made by Paul Pelosi between June 24 and July 1, as per the disclosure, include:
1. Purchasing 20 Broadcom call options with an $800 strike price and an expiration date of June 20, 2025, with a trade value of between $1 million and $5 million.
2. Purchasing 10,000 shares of Nvidia stock, with a trade value of between $1 million and $5 million.
3. Selling 2,500 shares of Tesla stock, with a trade value of between $250,000 and $500,000.
4. Selling 2,000 shares of Visa stock, with a trade value of between $500,000 and $1 million.
Trading activity by members of Congress and their spouses has been under scrutiny in recent years due to the sensitive or non-public information they might be privy to. However, Pelosi has long opposed calls for legislation to ban Congress from trading individual stocks. In December 2021, Pelosi responded to the idea of a possible stock trading ban with, “We are a free-market economy. They should be able to participate in that.” In July 2022, Pelosi denied the idea that her husband had made stock trades based on information she shared with him, stating, “Absolutely not.”
The tracking of Pelosi’s trades, and the trades of other members of Congress, has led to the creation of several ETFs that buy and sell the shares traded by members of Congress. The performance of these ETFs has been impressive so far.
