Why did the Australian Ethical (ASX:AEF) share price storm 9% higher today?

Australian Ethical Investment Limited (ASX: AEF) shares were cruising higher today despite no price sensitive announcements out of the company. By the market’s close, the Australian Ethical share price was trading at $5.05, up 8.84% from yesterday’s close.

The rise in the Australian Ethical share price comes as the Democrats sit on the verge of taking control of the United States Senate. But more on that in a moment.

What Australian Ethical does

Australian Ethical is a funds management company that specialises in environmentally and socially responsible investments. Its business is divided into two key segments in the form of managed funds and superannuation. 

Australian Ethical’s managed funds business comprises eight…