The trading activity of members of Congress continues to be widely followed by investors. A U.S. Senator recently disclosed buying shares of two energy stocks. Here’s a look at the new picks.
Senator Goes Stock Shopping
Sen. John Boozman (R-Ark.) bought shares of two energy stocks in the month of April, according to the Benzinga Government Trades page. Here were the purchases.
- April 2: Bought $1,000 to $15,000 in shares of Constellation Energy Corp (NASDAQ:CEG)
- April 9: Bought $1,000 to $15,000 in shares of Devon Energy (NYSE:DVN)
This marked the first buy of either stock by the senator, according to data from Quiver Quantitative. The transactions were listed as being made by a joint trading account.
Both stocks are in the energy sector and both have exposure to data centers, which could make the stocks investments with exposure to old energy and the rise of new energy, with the growing need for data centers for AI power.
The timing of Boozman’s Constellation stock purchase may end up being a great buy. On the day of the purchase, Constellation shares traded between $264.74 and $275.64. Today, the stock trades at $294.10.
Devon Energy stock hasn’t performed near as strong, with shares trading at $46.61, below the trading range of $47.60 to $49.11 on April 9.
Boozman’s Trading History
Boozman has been actively buying and selling stocks over the last few years in the Senate. This includes buying larger stakes in Microsoft Corporation (NASDAQ:MSFT) and Nvidia Corporation (NASDAQ:NVDA) over the past few months.
The latest purchases could signal investment in data centers or in energy.
Boozman’s investment portfolio also includes investments in oil and defense stocks. Buying oil and defense stocks in recent months has drawn red flags due to the increasing military operations by the U.S. Government in Venezuela and the Middle East and the rising cost of oil as a result of the continued Middle East tension.
Image via Shutterstock
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