Michael McCaul Is Back to Buying Tech Stocks
Michael McCaul, the U.S. representative for Texas's 10th congressional district since 2005, is buying tech stocks again. According to filings released earlier this week, the Congressman invested in several tech stocks on a couple of occasions in November.
Rep. McCaul, one of the most influential members of Congress and a member of the House Committee on Homeland Security, invested in both Amazon (AMZN:US) and Meta Platforms (META:US), using this year’s pullback in shares to build a long position.
The Congressman was buying shares of the e-commerce giant on November 15, when the stock closed at $98.94. According to congress stock watch, Rep. McCaul reported two purchases in shares of Amazon. But he was more aggressive when it came to investing in Meta Platforms.
The Republican from Texas reported as many as 4 buy trades involving META shares after he had initially sold $15,000 - $50,000 worth of Meta stock on two occasions in early November. The timing of these transactions hasn’t been ideal as he sold Meta stock on November 04, when shares closed at $90.79.
On the other hand, Rep. McCaul was also buying Meta stock on November 08, 14, and 18 when shares closed at $96.47, $114.22, and $112.05, respectively. All these transactions were valued between $50,000 and $100,000.
The Republican also bought shares of the business software maker Intuit (INTU:US) and Autodesk (ADSK:US), which offers software solutions focused on architecture and engineering.
Rep. McCaul reported over 6,000 trades in the past 3 years with around 13% of all trades involving tech stocks.
