US Senator Who Serves On Finance Committee Profits From Betting Against The Stock Market — And He Just Bet The Same Again
Portfolio Pulse from Chris Katje
US Senator Thomas Carper, a member of the Senate Finance Committee, has continued his trend of betting against the stock market. He recently sold his positions in the ProShares Short QQQ ETF (NYSE:PSQ) and purchased up to $45,000 in AdvisorShares Ranger Equity Bear ETF (NYSE:HDGE). This move has raised concerns as Carper could have access to insider information due to his position on the Senate Finance Committee.
November 06, 2023 | 5:26 pm
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NEUTRAL IMPACT
Senator Carper sold his positions in the ProShares Short QQQ ETF (PSQ), indicating a potential shift in his investment strategy.
Senator Carper's sale of his PSQ positions could indicate a shift in his investment strategy. However, it's unclear what this might mean for the ETF's performance without more information.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Senator Carper has purchased up to $45,000 in AdvisorShares Ranger Equity Bear ETF (HDGE), indicating a bearish outlook on the market.
Senator Carper's purchase of HDGE indicates a bearish outlook on the market. Given his position on the Senate Finance Committee, this could suggest he has information suggesting a potential market downturn.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100