U.S. Senator John Boozman (R-Ark.) has disclosed a series of recent stock and exchange-traded fund trades that include a shift toward small-cap exposure. According to the disclosure, Boozman recently swapped the iShares Core S&P 500 ETF Trust (IVV) for the State Street SPDR S&P 500 ETF (SPYM).
The senator also sold positions in Johnson & Johnson (JNJ) and Constellation Energy (CEG). In addition to these swaps, Boozman purchased shares of Otis Worldwide (OTIS).
A significant portion of the disclosed activity involves the acquisition of two small-cap ETFs: the Avantis U.S. Small Cap Value ETF (AVUV) and the iShares Core S&P Small-Cap ETF (IJR). The filing indicates that Boozman purchased between $1,000 and $15,000 worth of shares in each of these small-cap funds.
The timing of these purchases is noted in the report, which states that the Federal Reserve is expected to raise rates on Wednesday. The article highlights that small-cap companies typically rely heavily on borrowing to fund growth, and the report suggests that higher borrowing costs could negatively impact these companies.
According to data from Quiver Quantitative, Boozman has conducted over 300 trades since 2023, generating more than $3.8 million in stock and ETF transactions during that period.
