U.S. Politician Engages in Massive Suspicious Trade Amid Tariff Fluctuations
Suspicious trades are anything but a rare sight on Capitol Hill.
As evidenced by Marjorie Taylor Greene’s recent stock market investments in the middle of the tariff downturn, lawmakers don’t shy away from liquidating their positions or going long — even when it is painfully obvious that their informational edge constitutes an unfair advantage. However, MTG was not the only U.S. politician who significantly reshuffled his or her portfolio as of late.
Finbold’s congressional trading radar recently picked up on an interesting, suspicious trade — which stands apart on the basis of size. Jefferson Shreve, the Republican representative of Indiana’s 6th congressional district, executed trades valued at more than $6 million over the course of March, as revealed by a recently published periodic transaction report.
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The filing covers more than 120 trades made by the congressman last month — most of which were valued at between $15,001 and $50,000. However, a few of them caught our eye.
First, let’s set the stage as to why we’d consider these to be suspicious trades. Shreve is currently a member of the Committee on Foreign Affairs, the Committee on Transportation and Infrastructure, the Subcommittee on Aviation, the Subcommittee on Highways and Transit, and the Subcommittee on Railroads, Pipelines, and Hazardous Materials, among others — but we consider these to be relevant.
All the trades we’ll discuss fall in the $15,001 to $50,000 range. Let’s begin with foreign affairs. Some of the suspicious trades executed by the congressman include a $15,001 to $50,000 sale of Marvell Technology stock (NASDAQ:MRVL) and a $15,001 to $50,000 sale of Halliburton Company stock (NYSE:HAL).
The MRVL stock sale was made on March 5, when it was trading at $90.14, while the HAL stock sale was made on March 13, when it was changing hands at a price of $24.34. By press time, Marvell Technology shares had fallen to $52.26, while Halliburton Company shares were trading at $21.25. The congressman avoided a 42.02% and 12.69% loss, respectively.
On their own merits, these appear to be sensible trades, not suspicious trades — MRVL is a semiconductor stock, while Halliburton primarily operates overseas — both are exposed to significant policy risks.
However, for some reason, the congressman also bought $15,000 to $50,000 of Apple stock (NASDAQ:AAPL) — which turned out to be a prudent move, as demonstrated by the recently announced tariff exemption for electronics. Accurately telling
Next up is aviation — the representative sold Delta Air Lines stock (NYSE:DAL), but purchased Ball Corporation stock (NYSE:BALL). Lastly, we have infrastructure. Shreve sold Caterpillar stock (NYSE:CAT) but purchased Vistra Corp stock (NYSE:VST).
While most of the trades are currently in the red, a portfolio of this size implies a long-term, buy-and-hold strategy — and judging by the congressman’s judicious handling of Apple, his picks might very well rebound going forward.
Featured image via Shutterstock
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