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Tuttle Capital’s New ETF Mirrors Congress Members’ Stock Picks

Jun 12, 2024 at 11:27

Tuttle Capital is leveraging mandatory stock disclosures by U.S. lawmakers to support its newly proposed ETF strategy.

The issuer, Tuttle Capital, has introduced a new ETF designed to track and invest in stocks held by members of the U.S. Congress or their spouses. This actively managed fund, named the “Tuttle Capital Congressional Trading ETF,” will invest based on stock picks disclosed in mandatory public filings, according to a regulatory submission dated June 11.

These filings are required by the Stop Trading on Congressional Knowledge (STOCK) Act, enacted in 2012 to prevent lawmakers from using non-public information for personal gain.

Tuttle Capital plans to choose which Congress members to follow based on the historical performance of their investment returns, their committee assignments, and their seniority. The fund will carry a management fee of 0.75%.

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This ETF follows similar funds by Subversive Capital Advisors, which launched the Unusual Whales Democratic ETF (NANC) and Unusual Whales Republican ETF (KRUZ) in February 2023. These funds have seen returns of 17% and 8%, respectively, outpacing the S&P 500’s 12.7% return for the same period, as reported by Yahoo Finance and MarketWatch.

Tuttle Capital is known for its unconventional ETF proposals. In 2022, it launched two ETFs based on investment advice from CNBC’s Mad Money host Jim Cramer: the “Inverse Cramer ETF,” which bet against his picks, and the “Long Cramer ETF,” which followed his recommendations. These ETFs had short lifespans, with the Long Cramer ETF closing after about five months and the Inverse Cramer ETF after 11 months.

In January, Tuttle Capital also proposed six leveraged and inverse Bitcoin ETFs, aiming to offer amplified returns from a spot Bitcoin ETF. However, these ETFs are not currently listed among Tuttle Capital’s active strategies.

Additionally, Tuttle Capital’s CEO and Chief Investment Officer, Matthew Tuttle, recently commented on the potential for an ETF tracking the stock picks of renowned GameStop trader Keith Gill, known as “Roaring Kitty,” describing it as an “interesting idea.” This suggestion was informally proposed by The ETF Store president Nate Geraci, who noted Gill’s significant following in the media and among investors.

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