Which Stocks Is Congresswoman Virginia Foxx Trading These Days?
Virginia Foxx, the U.S. representative from North Carolina's 5th congressional district since 2005, disclosed new trades she made in October.
In the largest trade Rep. Foxx made since August, she sold between $100,000 and $250,000 worth of NextEra Energy (NEE:US) shares on October 14 when market closed at $71.77. The timing of the exit hasn’t been particularly great given that shares trade around 10% higher around three weeks later.
As far as other bigger trades are concerned, the Congresswoman also sold shares of Procter & Gamble (PG:US) worth between $50,000 and $100,000. The same amount was reported for the sale of Capital Power (CPXWF:US), the Canada-based power generation business.
PG shares trade about 8% higher these days compared to Foxx’s exit price after the company reported better-than-expected prices after higher prices helped it mitigate the surging costs. As vast majority of other US-based companies, PG stock also suffered from the FX headwinds amid soaring dollar.
On the long side of the market, Rep. Foxx reported she was buying shares of Flex LNG (FLNG:US) and Marathon Oil (MRO:US) in smaller sizes in terms of value.
Energy remains Foxx’s most favorite sector for trading, followed by Consumer Staples, Utilities, and Financials. As far as individual stocks are concerned, AT&T (T:US) tops the list, followed by the pharma giant GlaxoSmithKline (GSK:US).
Rep. Foxx is one of the most active Congress traders, having reported over 400 trades in the past three years. She serves on the committees for Education and Labor, and for Oversight and Reform.