Market Commentary

Shelley Capito Is Selling Major Financial Stocks

Torsten Caspar · 1 minute read

Senator Shelley Capito, the United States senator for West Virginia since 2015, disclosed that she made 10 trades in October, all on the short side of the market.

Capito was selling financial stocks, namely Wells Fargo (WFC:US), Blackrock (BLK:US), and JPMorgan Chase & Co (JPM:US). Moreover, the Senator was selling shares of UnitedHealth (UNH:US), Lowe’s (LOW:US), Linde (LIN:US), and Johnson & Johnson (JNJ:US).

The Senator also reduced tech stocks in her portfolio as she sold shares of Apple (AAPL:US) and Microsoft (MSFT:US).

These are the first trades reported by Rep. Capito since August when she reported trades involving Grainger (GWW:US) and Intel (INTC:US) shares. The Senator usually trades smaller sizes. Her biggest trade this year was a sale valued between $15,000 and $50,000 of Intel stock in mid-June when the stock closed at $37.34.

Intel shares have declined by nearly 18.71% since Sen. Capito’s sale of the tech stock after yet another disappointing earnings report that showed the company is losing its market share to key rivals, including Advanced Micro Devices (AMD:US).

The sectors Senator Capito frequently trades in are Financials and Technology. The issuers that she has mostly traded are Microsoft and Wells Fargo as per the number of trades made in the last three years. At present, she serves on the committees for Commerce, Science, and Transportation, among others.