Sirius XM Holdings Inc. (NASDAQ:SIRI) shares are trading higher Wednesday after the company's CEO disclosed the purchase of $1.03 million of stock.
What To Know: Sirius XM Holdings CEO Jennifer C. Witz bought 250,000 shares of stock at a price of roughly $4.11 per share for a total cost of $1.03 million.
While investors should not use an insider purchase such as this as a definitive reason to invest in a company, it does represent confidence in a stock.
Sirius XM Holdings has elevated short interest as well Wednesday, with 26.85% of shares currently sold short.
The stock is down 21.92% year-to-date.
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SIRI Price Action: Shares of SIRI were up 6.61% at $4.56 at the time of publication, according to Benzinga Pro.
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