California Pension Fund to Divest From Gun Stocks

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The Califrornia State Teachers' Retirement System, the second-largest pension fund in the U.S., announced in an official release that it's going to exit from stocks of certain firearms makers. In particular, this means Smith & Wesson (NASDAQ: SWHC  ) and Sturm Ruger (NYSE: RGR  ) .

Although CalSTRS does not hold relatively large stakes in either manufacturer -- it has around $1.1 million worth of the former, and $1.8 million in the latter -- the fund's size and prominence make it likely that the move will be followed by other large financial investors.

The CalSTRS divestment follows a call from California State Treasurer Bill Lockyer to exit from firms that make firearms prohibited by law to be sold or owned in the state.

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  • Report this Comment On January 11, 2013, at 2:58 AM, GETRICHSLOW2 wrote:


  • Report this Comment On January 11, 2013, at 8:48 AM, JoshPittyTheFool wrote:

    That wasn't them selling around 1pm yesterday? I think I will be holding on. Gun sales are going up, not down. Obama isn't going to ban all guns, but will more likely do something to anger people and make them buy more guns. This stock was $60 a month ago. I don't see any reason it can't hit again. Hopefully other large financial investors are smarter than bankrupt California.

  • Report this Comment On January 11, 2013, at 9:52 AM, StopPrintinMoney wrote:

    Politics politics politics.

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