North Carolina Representative Tim Moore has filed a series of trades totaling up to $380,000 in triple-leveraged ETF positions most notably in Direxion’s Daily Small Cap Bull 3X ETF (TNA), according to public filings dated August 4, 2025.
The trades span four consecutive purchase dates July 3, 9, 10, and 11 each falling into the $15,001–$50,000 range. If fully maxed, the filings picked up by Finbold’s political stock trading tracker represent $200,000 in TZA purchases alone.
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However, there’s a critical discrepancy: while the filings list the Bull 3X ETF, the ticker TZA actually refers to Direxion’s Bear 3X ETF, which profits when small-cap stocks decline. It’s unclear whether Moore intended to go long or short on small caps, or whether the disclosure contains a clerical error.
Trades we expect from day traders, not lawmakers
Moore’s filing is raising eyebrows, not just for its leveraged nature, but for its timing and aggressiveness. TZA is a high-risk product designed for short-term directional bets, often used by institutional traders to hedge volatility or capitalize on sharp market corrections.
Adding to the confusion, Moore is also known to hold large positions in triple-leveraged bull ETFs, further complicating the intent behind these moves.
It’s unusual, if not reckless, for a sitting Congressman to make this kind of bet. These are not buy-and-hold positions. It raises ethical questions about whether lawmakers are using their privileged access to economic insights to make short-term trades.
Fed policy in focus
Some market watchers speculated online that Moore’s trades may not necessarily be “bets against the economy,” but rather a hedge against monetary policy outcomes.
One comment reads:
“This isn’t a bet against the economy. It’s a bet that the Fed won’t cut rates. If lending dries up and rate cuts are delayed, small caps suffer.”
Still, the lack of clarity, and the mislabeling of a bull fund as a bear fund (or vice versa) underscores the urgent need for stricter financial transparency rules for elected officials.
