Barack Obama might seem an unlikely investor in the firearms industry.

But the U.S. president, a fierce advocate for gun regulation, has money in a pension fund that holds stock in gun and ammunition companies.

Although Obama’s stake is minuscule, worth no more than $30, it reflects a much larger surge of investment.

The president is among millions of Americans buying into gun companies – often unwittingly – as mutual funds have increased such holdings to record levels, according to a Reuters analysis of institutional investment in firearms companies.

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