US edition · Congressional trading
Michael McCaul reports late stock purchases
Filings disclosed since 15 October show $823,000 of purchases across 75 trades by two members of Congress.
Two members of Congress disclosed 75 trades worth $823,000 in purchases and $566,000 in sales in filings published since 15 October. Michael McCaul of the House reported the largest purchases, disclosing two transactions in J.W. Mays of $50,000 to $100,000 each and one in Valvoline in the same range on 14 October.
Members of Congress must disclose trades within 45 days. McCaul bought J.W. Mays stock on 10 August and 25 August, taking 65 days and 50 days to file, and bought Valvoline on 19 August, taking 56 days. Across filings disclosed in the last 30 days, 99 transactions missed the deadline, with McCaul recording the longest delay at 72 days.
McCaul made eight purchases and no sales in J.W. Mays between 3 August and 25 August. Since the trades, shares in J.W. Mays are down 6.6 per cent following the 25 August transaction and down 3 per cent following the 10 August purchase, while Valvoline shares are down 7.3 per cent.