Rep. Marjorie Taylor Greene (R-Ga.), although not a prolific stock trader like former House Speaker and Congresswoman Nancy Pelosi (D-Calif), is relatively active in churning her portfolio. A filing by the firebrand Republican earlier this week showed that she picked up some key tech stocks and also bought Treasury bills.
Greene Increases Chip Exposure: Greene picked up stocks of major chip-equipment makers, including Dutch company ASML Holding N.V. ASML and its U.S. peers Lam Research Corporation LRCX and Applied Materials, Inc. AMAT. She has bought shares worth $1,001-$15,000 in each of these companies.
The disclosure was made as a mandatory requirement necessitated by the “Stock Trading on Congressional Knowledge Act.” This act mandates U.S. lawmakers to publicly disclose financial transactions within 45 days of occurrence, typically within a value range.
Semiconductor equipment makers may be one way of gaining exposure to the hot-and-happening AI chip stocks that have run up sharply this year. As opposed to Nvidia Corp.’s NVDA year-to-date gain of 168%, Applied Materials has advanced a more modest 27%, Lam Research about 9.5% and ASML 12.4%.
JPMorgan Snapped Up Ahead Of Earnings: Green also picked up $1,000 to $15,000 worth of shares of big bank JPMorgan Chase & Co. JPM. The company is due to report its third-quarter results before the market opens on Friday, with analysts’ modeling earnings per share of $4.01, down from $4.33 reported for the year-ago quarter. Analysts, on average, expect 5% year-over-year revenue growth to $41.65 billion.
Other Purchases: The congresswoman’s other purchases include:
- Costco Wholesale Corporation COST: $1,001 to $15,000
- Dell Technologies Inc. DELL: $1,001 to $15,000
- FedEx Corp. FDX: $1,001 to $15,000
- Meta Platforms, Inc. META: $1,001 to $15,000
- Visa, Inc. V: $1,001 to $15,000
Greene also bought U.S. Treasury bills amounting to $50,001 to $100,000.
All the transactions reported were made on Oct. 4
The congresswoman’s trades assume importance as the broader S&P 500 Index is at a record high. The SPDR S&P 500 ETF Trust SPY, an exchange-traded fund that tracks the S&P 500 Index, rose 0.69% to $577.14 on Wednesday, according to Benzinga Pro data.
Did You Know?
- Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool
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