NYC pension funds may sell $18 million in gun-related stocks

**ShooterInPA1** · December 18th, 2012, 08:44 PM

New York City's pension funds may sell nearly $18 million worth of stock in four companies that manufacture guns and ammunition, a spokesman said on Tuesday.

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New York's pension funds hold nearly $14 million worth of shares in ammunition maker Olin Corp, $1.7 million in gun maker Smith & Wesson Holding Corp, $2.4 million in gun maker Sturm Ruger & Co Inc and $17,866 worth of stock in Brazilian gun maker Forjas Taurus SA.

http://www.reuters.com/article/2012/...Finance&rpc=43

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I will say it again, now is the time for all gun owners to stand up and be counted.

They may not be coming for your gun of preference now, but make no mistake.....it is definitely on their list.

**Waldershrek** · December 18th, 2012, 08:46 PM

*edit*

Duh....answered my own question. I hope they lose money when they sell too.

**Z12kVZU** · December 18th, 2012, 09:07 PM

They'll be exiting with nice profits. SWHC & RGR are up huge over the past couple years. Although they've been getting crushed this week. Probably time to buy some more though. They'll eventually bounce back.

**GeneCC** · December 18th, 2012, 09:53 PM

Political grandstanding..... the Mayor of NYC is the same character who said that he did not want armed National Guardsmen on his streets because he only trusts "The NYPD to be armed on our streets". NATURALLY he's going to make this pitiful gesture - $18,000,000 is probably a week's worth of ammo sales in the US.

The California Teacher's Pension fund? The fund is in California, a known anti-gun state. The NEA has had an assault weapon ban on their platform since the early 1990s. The dead kids aren't even in ground and this outfit is dumping stocks. Sounds to me like they had this contingency "on the books" for quite some time, waiting for an "opportunity" to dump the stocks.

When gun company stocks start to tank I'll be worried. Until then this "devestiture" is a bunch of dramatic non-sense. As one person said above, I too hope that they get sheared dumping these stocks. Serve 'em right it would.

**galvanni** · December 18th, 2012, 10:01 PM

I had hesitated a few times with SWHC and RGR on the runup and never bought any. What put me off was the volume and the lots being bought on those spike days - it clearly indicated hedge fund or other large institutional performance chasing - no way your neighbor or the guy in the cube next to you at work is pulling off 5k-15k share lots and consistently over days - sometimes backing down to 1k shares so as not to raise interest as they quietly and methodically buy into it so it flies under the radar of the daily volume/% change indicators that people keep a keen eye on. If you've watched them for a while in the thin trading hours as I have you would notice things that make you scratch your head - 5 shares, 1 share, 15 shares - that's not your neighbor either - that's the market maker manipulating the spread in the thin space. That's good when you're on the right side of it but when these guys bail and the volume thins on the buy side the little guy gets crushed. When they head for the exits in the theatre - they don't walk down the isle to the door marked exit - they stampede. That's why I never actually bought any - it started to stink even though the fundamentals where there - but by then the low hanging fruit had already been harvested.

**Z12kVZU** · December 18th, 2012, 10:40 PM

Originally Posted by galvanni

I had hesitated a few times with SWHC and RGR on the runup and never bought any.

Smart. I made a good pick with SWHC's September earnings, got full of myself and subsequently hosed with earnings a couple weeks ago. I've been drinking pepto by the quart since then...