David Hogg, one of the student leaders who comes from the school in Parkland, Florida, urges investors BlackRock Inc. and The Vanguard Group, two of the largest investment management companies in the country, to boycott their involvement in arms companies.
"[BlackRock] and [Vanguard] are two of the biggest investors in weapons producers, so if you use them, you're welcome to let them know," Hogg said Tuesday in a series of tweets with the hashtags #BoycottVanguard and #BoycottBlackRock.
More information, Feel free to mark these companies pic.twitter.com/KODc2by5yO
– David Hogg (@davidhogg111) April 17, 2018
BLK, + 0.38%
is the largest institutional shareholder of gun maker Sturm Ruger & Co.
RGR, + 1.09%
and the second largest investor of Vista Outdoor Inc.
VSTO, + 1.07%
and Smith & Wesson Corp., parent company American Outdoor Brands Corp.
AOBC, + 1.84%
by Morningstar Data
Vanguard is the second largest shareholder of Sturm Ruger and the third largest of American Outdoor Brands and Vista Outdoor.
Hogg, 18, recently ran a nationwide advertising boycott of Laura Ingraham's show on Fox News. He is a survivor of the February massacre at Marjory Stoneman Douglas High School, which killed 17 people. In the past few weeks, he has become a vociferous anti-gun lawyer with more than 760,000 Twitter followers.
BlackRock discouraged retailers selling weapons from some of its exchange-traded funds last month, saying it would offer two new ETFs that exclude gun manufacturers and traders.
In addition to offering the FTSE Social Index Fund, which forecasts arms maker Vanguard, CNN said Tuesday that 359 of its 388 funds do not invest directly in arms manufacturers.
"Vanguard is taking action and meeting with the leaders of arms manufacturers and traders, and we want to know how they mitigate the risks of their products and how they help prevent such tragedies from occurring again," Vanguard said in a statement. "We believe that a company, if it poses a risk to society, can also be a risk to investors, and we express this viewpoint directly with corporate executives, believing that there is a stronger focus and transparency in terms of Ultimately, these issues will benefit both society and investors. "