This Savvy Congressman Is Making Trades Under His Kid's Name: Check Out 2 Dividend Stocks He Owns

Zinger Key Points
  • Congressman Khanna has made over 13,000 trades in the past three years.
  • He owns somewhere between $6,000 to $90,000 worth of Styker shares.
This Savvy Congressman Is Making Trades Under His Kid's Name: Check Out 2 Dividend Stocks He Owns

Democratic Congressman Ro Khanna has made more than 13,000 trades in the past three years.

The U.S. representative from California is considered one of the most active traders in Congress, according to Capitol Trades. However, Khanna’s purchases are typically filed under his child's name.

With many complaints over insider trading taking place in congress, many speculate that Congress members are using family members to hide their trades to avoid scrutiny when it comes to legislative decisions that may affect a business or sector.

See Also: 2 Dividend Stocks A Prolific Trader, Lawmaker Just Bought

As of Sept. 29, 72 Congress members violated the federal STOCK Act, which was formed to prevent insider trading. But certain lawmakers like Senator Elizabeth Warren and Senator Steve Daines want to go a step further and ban members of Congress and their spouses from owning or trading individual stocks.

Until then, Benzinga will keep track of certain trades politicos make. Here are two dividend stocks Khanna owns:

  • Stryker Corporation SYK offers a dividend yield of 1.29% or $2.78 per share annually, utilizing quarterly payments, with a notable track record of increasing its dividends for 12 consecutive years. Stryker, which specializes in reconstructive orthopedic implants, has a portfolio that includes hip and knee replacements, endoscopy systems, operating room equipment, embolic coils, hospital beds and gurneys, and spinal devices. The ownership of approximately $6,000 to $90,000 worth of Styker shares was filed under Khanna’s child, which were purchased from Aug. 8 through Aug. 15, at an average price of roughly $219.22 per share.
  • Wells Fargo & Company WFC is offering a dividend yield of 2.77% or $1.20 per share annually, making quarterly payments, with an inconsistent track record of increasing its dividend payments. The bank is split into four primary segments that include consumer banking, commercial banking, corporate and investment banking, and wealth and investment management, and is primarily focused on the U.S. market. The ownership of roughly $2,000 to $30,000 worth of Wells Fargo shares were filed under Khanna’s child, which were purchased from Aug. 16 through Aug. 17, at an average price of approximately $46.1 per share.

See Also: Is Nancy Pelosi Betting Big On Hotels? A Look At An Investment The US Speaker Of The House Made

Photo By: Brookings Institution From Flickr 

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