In a recent congressional trade report, Mike Kelly, a member of Congress representing Pennsylvania's 16th congressional district, has made multiple significant stock transactions. The transactions were carried out through the Victoria Kelly Trust ICA, an investment vehicle owned by Kelly.
One of the transactions involved Intel Corporation (NASDAQ:INTC), a multinational corporation and technology company headquartered in Santa Clara, California. Kelly sold a portion of his Intel stocks, with the transaction value falling in the range of $1,001 to $15,000. The exact date of the transaction was November 8, 2024, and it was officially recorded on December 11, 2024. Intel, currently trading at $20.67, has seen its stock decline nearly 60% year-to-date. According to InvestingPro analysis, the company appears slightly undervalued despite facing significant challenges, including rapidly depleting cash reserves.
Another noteworthy transaction was the sale of Union Pacific Corporation (NYSE:NYSE:UNP) stocks. Union Pacific Corporation is an American freight-hauling railroad company that operates 8,300 locomotives over 32,200 route-miles in 23 U.S. states. The transaction value for the sale of Union Pacific stocks ranged from $15,001 to $50,000. Similar to the Intel transaction, the Union Pacific stock sale took place on November 8, 2024, and was officially recorded on December 11, 2024.
In addition to these sales, Kelly also made a significant purchase. He bought Miami-Dade County, Florida Educational Facility University of Michigan Revenue bonds. The transaction, which occurred on November 11, 2024, and was recorded on December 11, 2024, was valued between $50,001 and $100,000.
Kelly also partially sold California State Government Call bonds due on December 1, 2047. The transaction was valued between $1,001 and $15,000 and was carried out on December 2, 2024.
These transactions highlight the active role that Kelly is playing in managing his investment portfolio through the Victoria Kelly Trust ICA. For investors seeking deeper insights into companies like Intel, InvestingPro offers comprehensive analysis with 10+ additional ProTips and detailed financial metrics, including exclusive Fair Value calculations and health scores for over 1,400 US stocks.
As always, investors should keep an eye on the financial activities of influential figures such as Kelly, as their actions can sometimes signal broader market trends.
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