Michigan's 6th congressional district representative, Debbie Dingell, has made a significant investment in the Government National Mortgage Association Pool (NASDAQ:POOL) (Ginnie Mae) through her Morgan Stanley (NYSE:MS) Smith Barney LLC Brokerage Account. The purchase, which took place on November 1, 2024, has a dollar value in the range of $50,001 - $100,000.
The investment is in the form of corporate securities, specifically a corporate bond. The bond, labelled MA9542, has a fixed coupon rate of 6% and is set to mature on March 20, 2054.
Dingell's investment in Ginnie Mae is not without precedent. Ginnie Mae, a government-owned corporation within the U.S. Department of Housing and Urban Development (NS:HUDC), guarantees investors the timely payment of principal and interest on mortgage-backed securities. This makes it a relatively safe investment, particularly for those looking for long-term security.
The transaction was made from Dingell's brokerage account with Morgan Stanley Smith Barney LLC, a major global financial services firm. The account is based in the U.S., and the purchase does not involve an initial public offering.
The trade was reported to the Clerk of the House of Representatives' Legislative Resource Center on November 4, 2024, in line with the requirements of the STOCK Act, which mandates that members of Congress disclose their transactions.
It's important to note that while this transaction provides a glimpse into Dingell's investment strategy, it does not necessarily reflect her policy positions or priorities as a representative. As always, investors are advised to do their own research and consult with a financial advisor before making investment decisions.
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