Trump Reportedly Bought Thousands In SpaceX Stock After Musk’s Company Went Public

President Donald Trump's portfolio managers bought shares of SpaceX stock in June, shortly after the company went public, his financial disclosures show.

Concretely, they bought between $15,001 and $50,000 and was part of over 1,000 trades that were made in June.

White House spokesman Davis Ingle told Reuters that the managers replicate "recognized indexes, such as the Schwab 1000."

"Neither President ​Trump nor any member of ​his family has any ability ‌to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold," Ingle added.

SpaceX is a U.S. contractor and usually needs approval from federal agencies. In fact, Trump recently directed his team to increase the number of U.S. commercial space launches, a field that SpaceX dominates.

The trade has so far lost money. The portfolio managers bought shares at $156.11 back then. They closed Monday's session at $135, the same price at which the company launched its IPO.

Two Democratic lawmakers are seeking information about Trump's financial disclosures, including stock trades made in his name since he returned to the White House.

Sen. Elizabeth Warren and Rep. Robert Garcia sent a lengthy letter to Trump earlier this month, saying they want to know who are the money managers in charge of his investments.

"One analysis estimates that you reported more than 14,000 stock trades, worth up to $1.06 billion during your first year in office. The total is likely higher as these reports don't even include transactions worth less than one thousand dollars," reads a passage of the letter.

"The sheer volume of this trading activity and the timing of a number of transactions, raise questions about whether you are using your knowledge of government activities, your official authority, or the vast megaphone provided by the Presidency to make investments or move markets to your personal benefit—and about whether you have been making decisions that boost your portfolio at the expense of taxpayers, the economy, and national security," it adds.

The letter asks Trump to list "all third-party institutions and managers that direct your trades" and explain their rationale.

CNBC detailed that Trump has defended the trades made in his name, saying he has no contact with those who handle the money. "They invest my money, and I don't talk to them. I never — I don't even speak to them," he said.

The White House has also denied Trump's disclosures raise any conflicts of interest. Some estimates detailed by the outlet claim he made more than $2.2 billion in revenue last year.