Jump to content
Sign Up To Remove Ads!

Archived

This topic is now archived and is closed to further replies. Want this topic removed from the archive?

Cinnamon

Special Report: Why Obama and other gun control advocates own stock in firearms makers

Recommended Posts

 Cinnamon    24,613

Barack Obama might seem an unlikely investor in the firearms industry. But the U.S. president, a fierce advocate for gun regulation, has money in a pension fund that holds stock in gun and ammunition companies.

Although Obama’s stake is minuscule, worth no more than $30, it reflects a much larger surge of investment.

The president is among millions of Americans buying into gun companies - often unwittingly - as mutual funds have increased such holdings to record levels, according to a Reuters analysis of institutional investment in firearms companies.

Since Obama was elected in 2009, mutual funds have raised their stakes to about $510 million from $30 million in the nation’s two largest gun manufacturers with publicly traded shares, Smith & Wesson Corp and Sturm, Ruger & Co. That means such stocks are now common in retirement and college savings plans.

The influx has helped to boost both companies' shares by more than 750 percent during the Obama presidency; each now has a market value of about $1 billion.

Beyond mutual funds, such investments also are held in the portfolios of hedge funds and public pension plans, which are harder to track.

<snip>

http://www.reuters.com/article/us-gun-stocks-obama-special-report-idUSKCN0VE1TG

Share this post


Link to post
Share on other sites

×