Investors Tune In to Sirius XM Stock on Buffett Investment
![Investors Tune In to Sirius XM Stock on Buffett Investment Investors Tune In to Sirius XM Stock on Buffett Investment](https://i2.wp.com/www.investopedia.com/thmb/VX81-ydggBMnIN7ENN4e9NyOErI=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500388315-67ec16d2a8df4ba485f47a4cb47e8e61.jpg?w=780&resize=780,470&ssl=1)
Key Takeaways
- Warren Buffett’s Berkshire Hathaway boosted its stake in Sirius XM Holdings.
- Berkshire added more than 96 million shares in the second quarter.
- The news lifted Sirius shares, which have slumped this year, at one point hitting a 12-year low.
Shares of Sirius XM Holdings (SIRI) advanced Thursday after Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) made a big addition of the stock to its portfolio in the second quarter.
In a regulatory filing, Berkshire reported it now held 132,878,213 shares of the satellite radio provider, with an approximate value of $376 million. That’s an increase of 96,196,301 shares.
Berkshire also picked up more shares of one of Buffett’s favorites, energy producer Occidental Petroleum (OXY), as well as insurer Chubb Limited (CB), while adding new positions in electronics manufacturer Heico (HEI) and beauty products maker Ulta Beauty (ULTA). Shares of all four also advanced, with Ulta Beauty and Heico getting an especially big bump on the news.
The Berkshire move was music to the ears of Sirius XM investors, who have seen shares of the company plunge this year, at one point hitting their lowest level in a dozen years. Even with today’s 7% gains to $3.11 as of 10 a.m. ET, shares remain down more than 40% year-to-date.
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