Tuttle Capital Files ETF to Watch, Invest in US Congressional Stocks
Summary:
Tuttle Capital has filed a 'Tuttle Capital Congressional Trading ETF', an exchange-traded fund (ETF) aimed at tracking and investing in stocks held by members of the US Congress or their spouses. The monitoring will be based on records in mandatory public disclosure filings as per the STOCK Act. Congress members will be selected as per their investment returns, committee memberships, and ranking. This follows similar Congress tracking ETFs from Subversive Capital Advisors. Tuttle Capital filed unusual ETFs in the past, centered around investment tips from Jim Cramer and six proposed leveraged and inverse Bitcoin ETFs.
Tuttle Capital, an issuer of exchange-traded funds (ETFs), has registered a novel ETF designed to monitor and invest in stocks owned by US Congress members or their partners. The proposed 'Tuttle Capital Congressional Trading ETF' will be an actively managed fund engaging in lawmaker's stock selections as revealed in obligated public disclosure statements, according to information from a June 11 regulatory filing. In compliance with the Stop Trading on Congressional Knowledge (STOCK) Act, which was initiated in 2012 to inhibit US legislators from exploiting insiders' knowledge for personal gains, these disclosures are provided.
Tuttle Capital has disclosed that the fund will designate the Congress members they will monitor based on past performance of their investments, their membership on various committees, and their rank. The proposed management fee is 0.75%. The year has seen similar Congress-auditing ETFs from Subversive Capital Advisors— The Unusual Whales Democratic ETF (NANC) and Unusual Whales Republican ETF (KRUZ) launched in February 2023, have achieved 17% and 8% progress this year, correspondingly, compared to the S&P 500’s 12.7% progress during the same period, as per Yahoo Finance and MarketWatch.
Tuttle Capital is not new to proposing unusual ETFs. In 2022, it registered two ETFs centered around the investment recommendations from CNBC Mad Money host Jim Cramer. One, named 'Inverse Cramer ETF', was designed to bet against his investment recommendations, while the other, 'Long Cramer ETF', adopted an opposing strategy. The Long Cramer ETF had a short lifespan of just around five months before it closed, while the Inverse Cramer ETF survived roughly 11 months. Moreover, in January, the issuer indicated its plans for six leveraged and inverse Bitcoin (BTC) ETFs, which could offer intensified returns from a spot Bitcoin ETF. However, none of these ETFs are currently listed as 'current T-REX strategies' on the company’s website.
Matthew Tuttle, the CEO and Chief Investment Officer at Tuttle Capital recently remarked that an ETF monitoring the stock picks of renowned GameStop (GME) stock trader Keith Gill, who goes by the moniker 'Roaring Kitty', was an 'interesting idea.' This suggestion was light-heartedly put forward by The ETF Store president Nate Geraci considering the trader's significant following from media and spectators.
Published At
6/12/2024 6:28:58 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.