Republican Rep. Tim Moore is betting big against President Donald Trump’s economy.
Moore, a North Carolina freshman who’s lauded Trump for his economic leadership, has poured up to $245,000 of his own cash into an exotic investment fund that earns him money when a key stock market index falters, according to congressional financial disclosures reviewed by NOTUS.
Known as the Direxion Daily Small Cap Bear 3X Shares fund, the fund “will lose money when the value of the [Russell 2000] index rises because of the fund’s inverse or short exposure — this result is the opposite from a traditional index fund,” according to a fund prospectus submitted to the Securities and Exchange Commission.