Quantcast


Last updated: March 16. 2013 7:39PM - 110 Views

Story Tools:

Font Size:

Social Media:

(AP) The pension fund for New York City schoolteachers has sold its stock in companies that make guns and ammunition.


City Comptroller John Liu said Friday that the move came after a thorough review of the fund's exposure to such investments.


Teachers union head Michael Mulgrew said selling the stock was the right thing to do after the school shootings in Newtown, Conn. Similar reviews of gun-industry holdings are under way at pension funds across the country since the massacre.


Liu says the $46.6 billion New York City Teachers' Retirement System is the largest pension fund to sell its gun industry holdings so far.


The fund had a total of $13.5 million invested in five gun makers. Those included Smith & Wesson Holding Corp. and Sturm, Ruger & Co.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com