by: Elizabeth Balboa, Benzinga Staff Writer
According to the National Instant Criminal Background Check System (NICS), the FBI conducted nearly 2,045,564 checks in April, representing 4.7-percent year-over-year and 15.9-percent sequential decreases.
April is the fourth consecutive month registering annual decreases, signaling the end of a succession of record-setting checks in 2016. Last year’s total, ahead of the uncertainty surrounding the presidential election, amounted to a 2.9 million unit and 55.7-percent year-over-year increase.
The Usual Stimulus
The monthly report is a typical catalyst for volatile gun stocks, which have been known to stall on weak figures and pop on strength. The positive correlation positions trigger-happy traders to cash in at the start of each month.
However, month-to-month performance is not entirely predictable. Although investors can generally count on a swell in the winter months, trends vary within seasons.
The FBI generally releases NICS updates at the start of each month.
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