David Hogg calls for investors to boycott BlackRock, Vanguard over gun holdings

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David Hogg, one of the student leaders to emerge from the school shooting in Parkland, Fla., is calling on investors to boycott BlackRock and The Vanguard Group, the nation's two largest investment-management companies, over their holdings in gun companies.

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"BlackRock and Vanguard, giant managers of exchange traded funds and other passive-style investments, are the biggest owners of publicly traded firearms makers like Sturm Ruger and American Outdoor Brands". That's because these funds track stock indexes that include the stocks of the gun makers. The company has also engaged in policy discussions with weapons manufacturers and distributors.

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In an email to International Business Times, a Vanguard spokesperson explained that most of its funds "do not have exposure to gun manufacturers" and that 359 of 388 of their funds do not directly invest in gun makers. Investors can also put their money in a Vanguard social fund that excludes gunmakers.

And in another, he took a picture of a chart what seems to be five investment companies with share numbers held and the value of those shares - presumably in "gun manufacturers", though the chart does not specify. "We want to know how they will mitigate the risks that their products pose and how they plan to help prevent such tragedies from happening again", Vanguard said in a statement. Since the February 14 school shooting, over a dozen major companies have ended partnerships with the NRA, including Hertz, Delta Airlines and MetLife.

In a tweet on Tuesday afternoon, David Hogg called for a boycott of The Vanguard Group, based in Malvern, Chester County, and BlackRock, using the hashtags #BoycottVanguard and #BoycottBlackrock.

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