Last week, Finbold highlighted an intriguing development involving US Senator Tommy Tuberville, who recently lifted his hold on military promotions.
Amid this legislative responsibility, the Senator emerged as one of Congress’s most active stock investors, conducting trades totaling around $11 million in stock and options. The overlap between financial activities and critical legislative duties, particularly promotions, raised ethical questions and concerns about potential conflicts of interest.
However, the move was not a surprise considering that the 69-year-old made more questionable stock trades than any of his Senate counterparts.
Adding to these concerns, trading data platform Quiver Quantitative revealed another noteworthy transaction where the Senator purchased a less-known stock earlier this year, which, since then, has surged 30%.
What happened?
According to Quiver Quantitative’s post on December 11, Senator Tuberville purchased shares in PulteGroup (NYSE: PHM), a residential home construction company with a market capitalization of around $20 billion.
Since buying it two months ago, the stock witnessed a jump of more than 30%, trading at $96.05 at the time of publication.
The move represents yet another timely-launched trade made by the US politician.
“Tuberville has made many suspiciously well-timed trades, so I called this one out when it was disclosed.”
– Quiver Quantitative noted in its post.
Earlier posts by the same X account highlighted that Tuberville conducted “more suspicious trades than any other Senator.”
Unsurprisingly, he was also a vocal critic of the recent proposal to ban congressional stock trading, a subject of growing controversy. Tuberville deemed the proposal “ridiculous,” saying it would “really cut back on the number of people who want to come up here and serve.”
Buy stocks now with Interactive Brokers – the most advanced investment platform
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
