Warren Buffett's Berkshire Hathaway says today it will not issue more shares in response to the company's just-announced addition to the benchmark S&P 500.
In a news release this afternoon (Thursday), Berkshire says the S&P news prompted "several inquiries" on whether the company "would be issuing additional shares of its common stock in what is often referred to as an 'Index Add' issuance."
The response: "Berkshire does not intend to issue any additional shares of its common stock other than the common stock it will issue upon the completion of the previously announced acquisition of BNSF."
That's a positive for the stock, because the big S&P index funds will have to buy the stock when it is formally added, but there won't be any additional supply to accomodate that demand.
UPDATE: Berkshire B shares closed today at $73.90, a gain of $2.54, or 3.56 percent, from Wednesday's 4p ET close. That buillds on yesterday's gain of almost 5 percent following the S&P announcement, and puts the stock at a fresh 14-month closing high, topping last Thursday's $72.72. That was the day Berkshire's 50-for-1 split of its B shares went into effect.
Current Berkshire stock prices:
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