"The Stock God of Capitol Hill" strikes again: Pelosi's husband increases holdings in NVIDIA, reduces holdings in Microsoft

In addition to Wall Street, a group of "stock gods" has emerged in the US Capitol Hill in recent years, with former Speaker of the House Nancy Pelosi being a typical example. She has been accused of using "insider information" to help her family trade stocks and has made substantial profits. Pelosi has just disclosed the latest stock trades made by her husband, Paul Pelosi. According to a financial disclosure filed on July 30th, Paul Pelosi bought more NVIDIA shares a few days ago while reducing his holdings in Microsoft. As per the disclosure, Paul purchased 10,000 shares of NVIDIA on July 26th, with a transaction value between $1 million and $5 million; he sold 5,000 shares of Microsoft, with a transaction value between $1 million and $5 million. And according to another disclosure a few weeks ago, Paul bought 10,000 shares of NVIDIA at the end of June.

NVIDIA surged nearly 13% on Wednesday, adding $329 billion to its market value in a single day, marking the largest single-day gain in history since February 22nd. Stronger-than-expected performance from competitor AMD has sparked optimism in the semiconductor industry. NVIDIA is expected to report earnings at the end of August. On the contrary, Microsoft fell over 1% on Wednesday, with disappointing cloud computing revenue in its latest quarterly report. Due to the considerable returns, the trades of the "Capitol Hill stock gods" have attracted a following, leading to the emergence of ETFs that track the trading activities of members of Congress and their families