Tech

David Hogg calls for boycott of Vanguard and BlackRock over gunmaker ownership

David Hogg calls for boycott of Vanguard and BlackRock over gunmaker ownership

"David Hogg, one of the high students from Parkland, Fla. who have been pushing a mass-media gun-control campaign since a former student shot dead 17 high school classmates and staffers and wounded dozens more, urged investors Wednesday morning to "#BoycottVanguard" and "#BoycottBlackRock" for their gun investments.

Vanguard is the largest provider of mutual funds in the world, while BlackRock is the largest provider of exchange-traded funds (ETFs).

BlackRock is the top shareholder in gunmakers Sturm Ruger and American Outdoor Brands.

Both companies have faced pressure from gun control advocates to divest from gun stocks since the shooting at Marjorie Stoneman Douglas High School in February.

More news: Peel Hunt Reiterates Buy Rating for Genus (GNS)

Aside from offering the FTSE Social Index Fund, which excludes gun makers, Vanguard told CNN on Tuesday that 359 of its 388 funds do not directly invest in gun makers.

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.

After starting an advertiser boycott of Fox News Channel host Laura Ingraham, gun-control activist has set his sights on two new targets - gun manufacturers and their capital backers. "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". In response, Hogg tweeted out a list of companies who advertised on her show.

Hogg already has experience in leading a large-scale political boycott against a prominent National Rifle Association supporter. Some of the network's regular advertisers avoided "The Ingraham Angle" as a result.


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