Congressman Austin Scott is catching the eyes of investors today following a report on how well politicians’ stocks did compared to SPDR S&P 500 ETF Trust (NYSEARCA:SPY) in 2021.
The list highlights 35 members of Congress that outpaced SPY last year with Austin Scott leading it with his stocks. The Congressman represents Georgia’s 8th congressional district and has been doing so since 2011.
Of the 35 members of Congress on the list, 19 of them are Democrats and 16 of them are Republicans. While not as many Republicans beat out SPY last year, they make up for it with the top five performers all being from the conservative party.
Interest in the list quickly went viral and now traders are taking to social media to discuss Austin Scott stocks. That includes some users wondering why investors we’re ever caring about Nancy Pelosi’s investments. She ranked sixth on the list, by the way, and was the best performer among the Democrats.
Unusual Whales, the account behind the Austin Scott stocks trend, calls out trades made by politicians in 2021 as unusually timed.
“Big legislative events (such as the Infrastructure Bill getting passed by the Senate) were often preceded by politicians trading in the sectors affected. There were tons of unusual trades where politicians made millions of dollars.”
It’ll be interesting to see how investors react to this list in the coming year. Some may take to following politicians, such as Austin Scott or Nancy Pelosi, when picking stocks to invest in considering how many beat out SPY last year.
Investors searching for more stock market news will want to stick around!
There’s loads of stock news to discuss today and we’ve got all the most important stories ready to go! That includes what’s happening with hot penny stocks today, nickel prices on the rise, as well as what has Gores Guggenheim (NASDAQ:GGPI) on the move. You can find out all about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.