Congressman Mike Kelly, representative of Pennsylvania's 16th congressional district, has made a substantial investment in Dallas-Fort Worth International Revenue Bonds (Dallas for Rev 5% due 11/1/2032). The transaction was a purchase, indicating Kelly's confidence in the performance of these bonds.
The transaction, which took place on September 23, 2024, was reported to the Clerk of the House of Representatives on October 15, 2024. The investment falls in the dollar range of $50,001 to $100,000. This is a notable addition to Kelly's portfolio, showcasing an interest in government securities and agency debt, as represented by the transaction type code [GS] in the congressional trade report.
The Dallas-Fort Worth International Revenue Bonds are a type of government security, which are considered a safe investment as they are backed by the full faith and credit of the government that issued them. This particular bond is due for maturity on November 1, 2032, and offers a 5% yield, providing a steady income stream for the investor.
The investment was made as a personal purchase by Congressman Kelly, as indicated by the owner asset transaction type in the report. This suggests that the investment was not made through a retirement account or other type of investment vehicle, but directly by Kelly himself.
This move reflects Kelly's investment strategy and his confidence in the future performance of the Dallas-Fort Worth International Revenue Bonds. As with all investments, it carries a degree of risk, but government securities are typically seen as a safer bet compared to other investment types.
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