Market Commentary

Congresswoman Carol Miller Violates Stock Act by Delayed Reporting of Her 2021 Trades

Rahul Joshua8 Sept 2022 · 2 minutes read

Congresswoman Carol Miller disclosed that she made three trades in August, which marks her first stock market activity since 2021.

The U.S. representative for West Virginia's 3rd congressional district disclosed that she invested between $15,000 and $50,000 in Target (TGT: US) and United Parcel Services (UPS: US) on August 08. Moreover, the Congresswoman sold between $15,000 and $50,000 worth of Emerson Electric (EMR: US) shares on the same day.

The Republican representative also unveiled more than 20 trades she made back in 2021. For some of these trades, Miller is late by almost 500 days in reporting, going against an important rule of the STOCK act. A clause in the act states that US Politicians should disclose all trading activities within 40 or 45 days of the trade being made.

Among the larger value trades - $15,000 to $50,000 - Miller bought shares of Amgen (AMGN: US), BlackRock (BLK: US), The Clorox (CLX: US), General Dynamics (GD: US), Johnson & Johnson (JNJ: US), Quest Diagnostics (DGX: US), Texas Instruments (TXN: US), and Paramount Global Class B (PARA: US).

On the other hand, she sold shares of Merck (MRK: US), L3Harris Technologies (LHX: US), Hormel Foods (HRL: US), Gilead (GILD: US), Dominion Energy (D: US), and Bristol-Myers Squibb (BMY: US).

Bearing these trades in mind, it doesn’t come as a surprise that her favorite sectors for trading are Consumer Staples, Healthcare, Industrials, and IT. Similarly, her most traded stocks include The Clorox (CLX: US), Dominion Energy (D: US), Abbott Laboratories (ABT: US), and Amgen (AMGN: US)

All these trades were made under the name of Miller’s husband, Matt F. Miller while she herself sits on House committees that oversee Climate Crisis, as well as the Ways & Means committee. Considering her trading past history, she is known to be one of the less active traders in Congress.