David Perdue’s stock trading saw an uptick as coronavirus took hold – By Tia Mitchell (The Atlanta Journal-Constitution) / April 6 2020
U.S. Sen. David Perdue’s financial portfolio saw heavy trading during the month of March, a period during which Congress passed three different spending bills to address the spread of COVID-19 and the markets took a turn for the worse.
The report lists 112 transactions, including 76 stock purchases costing as much as $1.8 million and 34 sales worth up to $825,000. Compared with the 26-month period before the coronavirus swept across America, Perdue’s portfolio activity has increased nearly threefold. There were an average of 38 individual transactions in monthly reports from January 2018 through February 2020.
Perdue logged 82 transactions on the report dated March 3. The report filed Sunday includes 110 stock-related line items.
Trading volume was up overall in March, with activity on the Dow Jones index more than double compared with one year prior. Raymond Hill, a professor of finance at Emory University, said the influx of new and sometimes conflicting information during the coronavirus pandemic spurred the flurry of activity.
“The result of that is you get huge volatility, and the volatility is a reflection of people doing a lot of trading in response to the latest big news,” Hill said.
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