The nations largest public pension fund is taking a stand against gun violence.
CalPERS voted Tuesday to sell all its investments in two firearms makers: Smith & Wesson and Sturm Ruger.
“This is more of a symbolic move,” explained FOX40 Financial Advisor Keith Springer. “CalPERS has a $254-billion dollar investment portfolio. We’re talking about $5 million from the gun makers, so it’s not that big of a deal.”
And so far, the move hasn’t hurt gun makers either.
“They’re enjoying great success right now. Guns and ammunition are flying off the shelves,” Springer said.