It is being reported that Sen. John Hoeven (R-ND) decided to purchase to purchase stocks in health and science companies shortly after learning about the potential dangers of the COVID-19 coronavirus.
“GOP Sen. John Hoeven, R-N.D., purchased between $100,000 and $250,000 of stock in a fund invested in health sciences companies in late January, just days after attending a briefing on the federal government’s response to the coronavirus,” CNBC reported Friday.
“The Jan. 29 purchase of shares in the BlackRock Health Sciences Trust II fund, detailed in Hoeven’s financial disclosure report filed in February, came before markets began plunging later that month, once the unfolding public health crisis began to affect economies around the world,” CNBC noted. “It came five days after Hoeven was briefed by officials from the Centers for Disease Control and Prevention, the National Institutes of Health, and the State Department on efforts to contain COVID-19, the disease caused by coronavirus.”
According to the senator’s office, his purchase was not motivated by the meeting but by his financial adviser.
“No, the fund was purchased based on the recommendation of his financial advisor and in accordance with Senate regulations and reporting requirements,” spokesperson Kami Capener said. “Also, the senator agreed to his financial advisor’s recommendation during the first week in January, however the fund didn’t IPO until January 29.”