Shares of gun stocks Sturm Ruger & Company Inc RGR 0.86% and Smith & Wesson Holding Corp SWHC 2.15% are getting a bit of a boost this week after the FBI reported yet another record month of NICS background checks and Sturm Ruger delivered a Q3 earnings beat. October’s NICS number came in at a record 2,333,539.

The two numbers bode well for Smith & Wesson, which is expected to report earnings on December 6.

On the company’s earnings call, Sturm Ruger CEO Michael Fifer said the election season has been a strong driver of gun sales in 2016.

Fifer even urged “our customers and all freedom-loving Americans to take action in support of the Second Amendment.”

Despite month after month of record gun sales, both Sturm Ruger and Smith & Wesson’s stocks are down more than 11 percent in the past three months. Traders may be recognizing the boost the election season has provided for gun sales and taking profits ahead of the November election. Once the campaign rhetoric dies down following the election, political pressure for gun control laws will likely die…

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