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Paul Pelosi, husband of Mayor Nancy Pelosi, bought more than $ 1 million in shares in investment firm AllianceBernstein in February.
Tasos Katopodis / Getty Images
Speaker Nancy Pelosi’s husband Paul has just announced the purchase of more than $ 1 million in shares of
AllianceBernstein Holding,
a global investment company.
Paul Pelosi bought 15,000 shares of AllianceBernstein (ticker: AB) on February 18 and then bought another 25,000 shares on February 23, according to a form that spokesman Pelosi filed on March 9. Each transaction was valued at between $ 500,000 and $ 1 million. Specific numbers are not required for disclosure, only breaks.
The office of Paul Pelosi and Mayor Pelosi did not respond to requests for comment on stock purchases.
Paul Pelosi, a businessman and private investor, would generally not be required to report the negotiations publicly. However, government officials, their spouses and dependent children are required to report financial transactions valued at more than $ 1,000, usually within 30 days.
Paul Pelosi bought 20,000 shares of AllianceBernstein in December. Apparently, it was a new investment, as he did not own any of the shares at the end of 2019, he had no other transactions with these shares in 2020.
AllianceBernstein’s shares rose 11.6% last year, compared to a 16.3% increase in
S&P 500 Index,
a broad measure of the market. So far, in 2021, however, AllianceBernstein’s shares have risen 14.3%, while the index has risen 5.0%.
Inside Scoop is a regular feature of Barron that covers stock transactions by corporate executives and board members – so-called insiders – as well as large shareholders, politicians and other prominent figures. Due to their insider status, these investors are required to disclose share trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.