In a tweet, Parkland Fla shooting survivor David Hogg called for customers of BlackRock and Vanguard Group, two investment management companies, to review their ties to gun manufacturers. These two companies are responsible for managing large amounts of exchange traded funds and other passive-style investments, and are the biggest owners of publicly traded firearms makers. The funds they manage have by default included the stocks of gun makers.
BlackRock announced that it would be offering a fund that would exclude stocks derived from gun manufacture for investors that wanted to avoid owning those stocks within their funds. The fund’s manager has relayed that it has opened discussions with gun makers and retailers to engage them on questions of gun safety and responsible use of their products.