Who Are the Biggest Stock Market Traders in Senate?
Trading activity in the House and Senate is always a popular topic among the public, especially when the market is moving lower amid aggressive Fed tightening and recession fears.
This article highlights the biggest stock market traders in the Senate by volume traded in the last three years.
1) Senator Rick Scott (R - Florida), one of the most influential Republicans in the Senate, reported 110 trades in the last three years involving tens of millions of dollars. Senator Scott serves on important committees, including the Armed Services, Budget, Homeland Security & Government Affairs.
2) Richard Blumenthal (D - Connecticut) reported almost 3 times as many trades as Senator Scott in the last three years, although he usually trades smaller sizes. He also sits on the Armed Services Committee, in addition to Veteran's Affairs, Judiciary, and Commerce, Science & Transportation. The Senator often trades Communication Services stocks.
3) Dianne Feinstein (D - California) reported only 14 trades in the last 3 years. However, her trades are valued in hundreds of thousands of dollars. For instance, she sold between $1 million to $5 million worth of shares of Allogene Therapeutics (ALLO: US) in 2020. Hence, it’s no surprise that Healthcare tops the list of most traded sectors.
4) John Hoeven (R - North Dakota) also doesn’t trade very often, although his trades include large sizes. Energy is the most traded sector by Senator Hoeven,which again is not surprising given that he serves on the committee for Energy & Natural Resources. Exxon Mobil (XOM: US) is also one of the most traded stocks by Mr. Hoeven.
5) Bill Hagerty (R - Tennessee) reported just over 50 trades in the past 3 years. The Senator often trades financial and banking stocks, given that he sits on the Banking, Housing & Urban Affairs committee.