Investors who believe that members of the US Congress have access to information that could give them a trading advantage can now trade two exchange traded funds that follow members’ stock transactions. Subversive Capital Advisor, an asset manager, and Unusual Whales, an option flow platform and data provider, on Tuesday launched the Unusual Whales Subversive Democratic ETF (NANC) and the Unusual Whales Subversive Republican ETF (KRUZ). The two ETFs, whose tickers are a play on the names of US politicians on opposite sides of the political spectrum — congresswoman Nancy Pelosi, the former Democratic speaker of the House of Representatives, and Ted Cruz, the Republican senator — will also invest according to political affiliation.
“We believe members of Congress have more information than the rest of us, and if they can trade on that information, we should be able to do the same, and now we can,” said Christian Cooper, the ETFs’ portfolio manager.
https://www.ft.com/content/241d73d5-20cb-4848-8d37-053cb39bdd3d