A Career Politician Who Regularly Trades The SPY, Picked Up These 3 High Yielding ETFs Instead
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With over 30 years of government experience, Representative Robert Wittman, a member of the Republican Party has been serving in Congress since 2007. He has been an integral part of the House Armed Services Committee and the Committee on Natural Resources for quite a while.
According to Capitol Trades, Congressman Wittman has engaged in more than 140 trades in the past three and a half years, with Abbott Laboratories (ABT:US) and SPDR S&P 500 Trust ETF (SPY:US) being among his most commonly traded securities. In November 2022, the lawmaker purchased shares of three exchange-traded funds (ETFs).
One of the ETFs he acquired was the iShares MSCI EAFE Value ETF (EFV:US), which was offering a forward dividend yield of nearly 5.97% or $2.76 per share annually back in December 2022 through semiannual payments. The ETF focuses on developed market equities, excluding the U.S. and Canada, with value characteristics. It provides exposure to undervalued companies in Europe, Australia, Asia, and the Far East. EFV's top three holdings were Shell (SHEL:US), Novartis (NVS:US), and BHP Group (BHP:US) back in December 2022.
Representative Wittman purchased shares of this ETF within the price range of $1,000 to $15,000 at a closing price of $44.82 per share on November 17, as per an undisclosed filing reported by Capitol Trades.
Another ETF he invested in was the iShares 10+ Year Investment Grade Corporate Bond ETF (IGLB:US), which provided a dividend yield of almost 4.42% or $2.27 per share annually back in December 2022 through monthly payments. It tracks an index consisting of U.S. Dollar-denominated investment-grade corporate bonds with maturities exceeding 10 years. The top stocks in its portfolio were AT&T (T:US), Comcast (CMCSA:US), and Verizon Communications (VZ:US) at the end of 2022. Representative Wittman purchased shares of this ETF within the range of $1,000 - $15,000 at a closing price of $49.86 per share on the same date.
The third ETF acquired by Representative Wittman was the Invesco KBW Bank ETF (KBWB:US), which offered a dividend yield of around 3.19% or $1.65 per share annually near the end of the year 2022 through quarterly payments. The ETF aims to invest at least 90% of its assets in index securities. KBWB's top three holdings include JPMorgan Chase & Co (JPM:US), Wells Fargo (WFC:US), and Bank of America (BAC:US). Representative Wittman purchased shares of this ETF within the range of $1,000 to $15,000 at a closing price of $54.06 per share also on the same date.
Representative Wittman's investment activities provide insights into his diversified investment strategy, including exposure to undervalued international equities, long-term corporate bonds, and the banking sector.
