Filers buy $21.7mn in media shares as technology holdings shrink

Filers in Congress and the executive branch disclosed $21.7mn of net buying in media and telecoms stocks over the past 30 days. Filings across the period showed $23.5mn of purchases in the sector against $1.7mn of sales across 60 trades in S&P 500 companies.

Technology recorded $6.5mn of net selling across 184 trades, with filers buying $6.5mn and selling $13.0mn. Industrial stocks saw $4.5mn of net selling across 124 trades, with $632,000 of purchases and $5.1mn of sales.

Trading across all 23 filers was balanced. Purchases reached $60.5mn, or 59 per cent of disclosed value, while sales stood at $42.1mn, or 41 per cent. Across 1123 trades, net buying totalled $18.4mn.

Home Depot, a home improvement retailer, recorded the most trades. Six filers made 18 trades in the company, comprising four purchases and 14 sales.