North Carolina Representative Engages in High-Stakes ETF Trading
According to public records dated August 4, 2025, North Carolina Representative Tim Moore has executed a series of significant trades, amounting to as much as $380,000, in triple-leveraged ETFs. The most notable of these trades involves Direxion’s Daily Small Cap Bull 3X ETF (TNA).
Details of the Trades
The trades were conducted over four consecutive days—July 3, 9, 10, and 11—with each transaction ranging between $15,001 and $50,000. If the maximum extent of these trades is considered, the filings, highlighted by Finbold’s political stock trading tracker, suggest that $200,000 was invested in TZA purchases alone.
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Confusion and Concerns Over Trade Intentions
Despite the filings listing the Bull 3X ETF, the ticker TZA actually corresponds to Direxion’s Bear 3X ETF, which thrives when small-cap stocks decline. This discrepancy raises questions about whether Moore intended to take a bullish or bearish stance on small caps or if the disclosure contains an error.
Uncharacteristic Trades by a Lawmaker
Moore’s trades have drawn attention not only for their leveraged nature but also for their timing and boldness. TZA, a high-risk product, is typically used by institutional traders for short-term directional plays to hedge against volatility or to profit from significant market downturns. Moore’s known holdings in large positions of triple-leveraged bull ETFs further obscure the intent behind these actions.
For a sitting Congressman, engaging in such speculative investments is unusual, if not questionable. These are not long-term holdings, and they raise ethical concerns about whether lawmakers are utilizing privileged economic insights for short-term gain.
Market Speculation: Fed Policy in Focus
Some market analysts speculate that Moore’s trades might not be “bets against the economy” but instead a hedge against potential monetary policy outcomes. One observer commented:
“This isn’t a bet against the economy. It’s a bet that the Fed won’t cut rates. If lending slows down and rate reductions are postponed, small caps will likely suffer.”
Nevertheless, the confusion and the misidentification of a bull fund as a bear fund (or vice versa) highlight the pressing need for more stringent financial transparency requirements for elected officials.
