Congressman Michael McCaul, who represents Texas's 10th congressional district, remains one of the most active stock market traders in Congress.
Browsing through the last batch of his trades, it appears that the Congressman was betting big time on two stocks. Rep. McCaul invested hundreds of thousands of dollars in Intel (INTC:US) on October 13, according to filings.
Rep. McCaul’s two transactions in INTC consisted of an investment in the range of $250,000 to $500,000, and another between $50,000 - $100,000. Both were on the day when Intel stock closed at $26.42. A very nice entry point has already resulted in a profit with Intel stock trading about 13% higher compared to McCaul’s buying rate.
Shares of Intel are down over 43% year-to-date while the company’s new CEO Pat Gelsinger struggles to turn around the embattled business. AMD (AMD:US) continues to gain market share at the expense of Intel, which is investing billions of dollars to catch up with its rival at times when cash is getting more and more expensive.
Similarly, the Representative invested the same amount of money in Dow (DOW:US) on October 05, when the stock closed at $46.06. Shares are already trading nearly 10% higher since early October.
Dow reported mixed results last month with earnings per share coming in ahead of the average analyst estimate while the company missed on a top line. Still, DOW shares are outperforming the broader market with a drop of nearly 12% year-to-date as compared to S&P 500’s 17%.
Congressman McCaul is an influential member of the Republican party and the Chair of the House Committee on Homeland Security.