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Before this week’s meltdown of Silicon Valley Bank, at least 8 members of Congress had already sold bank stocks in 2023, amounting to over $1M in total sales. Here are some of the most significant trades that we saw following this trend at the start of the year 👇
Senator Thomas Carper sold his whole position in the SPDR S&P Bank ETF ( $KBE ) on March 1st. Carper sits on the Senate Committee on Finance.
Rep. Scott Franklin sold up to $100K in JP Morgan stock ( $JPM ) on February 15th. He also sold up to $50K of $PNC on the same day.
Rep. Kevin Hern sold BlackRock stock ( $BLK ) on January 31st.
Rep. Mikie Sherrill sold up to $500K of $UBS on March 3rd.
On the other side of the aisle, Rep. Josh Gottheimer also sold BlackRock stock in January.
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