Tuttle Capital’s latest ETF aims to track the stock picks of Congress.
Exchange-traded fund (ETF) issuer Tuttle Capital has introduced a new ETF aimed at tracking and investing in stocks owned by members of the United States Congress or their spouses.
The Tuttle Capital Congressional Trading ETF is an actively managed ETF that invests in the stock picks of members of Congress as disclosed in mandatory disclosures pursuant to a June 11 regulatory filing.
The filings were made in response to the 2012 Trade Stopping Congressional Intelligence (STOCK) Act – a measure to prevent US lawmakers from using information from their positions for personal gain.
Tuttle Capital said the fund selects congressmen to follow based on historical performance of investment returns, committees they serve on and seniority. A 0.75% management fee is also floated.
It follows similar congressional-stocking-track ETFs from Subversive Capital Advisors, which launched the Unusual Whales Democratic ETF (NANC) and the Unusual Whales Republican ETF (KRUZ) in February 2023 — up 17% and 8% this year, respectively. Compared to the S&P 500s, it returned 12.7% over the same period, according to Yahoo Finance and Market Watts.
Tuttle Capital is no stranger to unique ETF ideas.
In the year In 2022, he offered two ETFs centered around investment advice from CNBC Mad Money host Jim Cramer.
One was a bet with investment recommendations, the “Inverse Cramer ETF,” and the other, the “Long Cramer ETF,” took the opposite strategy.
Related: Bitcoin ETF Drinks 2 Months of BTC Mining Supply in First Week of June
ETFs didn't last long. The long Cramer ETF traded for only five months before closing, while the inverse Cramer ETF traded for 11 months.
In January, Tuttle Capital proposed six proposed backed and inverse bitcoin (BTC) ETFs, which could provide “magnetic” returns from the spot, although none of these ETFs are currently listed as “Current T-REX” on Tuttle Capital's website. strategies”
Roaring Kitty EFF “Fun”
Matthew Tuttle, CEO and chief investment officer of Tuttle Capital, said recently that the ETF that tracks the picks of GameStop ( GME ) stock trader Keith Gill, known as “Roaring Kitty,” is “an exciting idea.”
Gaining a large following from the media and audience, the idea was floated – above all – by ETF Store President Nate Geraci.
Magazine: Roaring Kitty's GME Shares Hit $1 Billion, BTC Gains Interest, and Other News: Hodler's Digest, June 2-8
