As the election season ramps up, firearms background checks appear to be doing the same.

According to the Federal Bureau of Investigation (FBI), background checks soared 41 percent in February versus the same period last year to 2.61 million, which is the fourth-highest monthly total on record.

Tighter firearms restrictions combined with heightened interest in shooting sports have combined to fuel the recent surge, the WSJ noted today.

One FBI National Instant Criminal Background Check unit also noted that tax refunds in February generally add to demand for the month.

On watch amid the news are: Sturm Ruger (NYSE: RGR) and Smith & Wesson (Nasdaq: SWHC).