Berkshire Hathaway continued to sell Bank of America
Berkshire sold the shares on Wednesday, Thursday, and Friday at prices of about $40 a share. Bank of America stock finished Friday at $40.75, up 1.4%. Berkshire now holds 883 million shares of the banking giant, an 11.4% stake, worth about $36 billion, its third largest equity holding behind Apple
Berkshire now has sold Bank of America stock for six straight trading sessions and has reduced its holding in the bank by nearly 15%, or about 150 million shares, since it began reducing its stake in the bank in mid-July. Berkshire has realized around $6 billion from the sales.
Buffett turned 94 on Friday. As of June 30, Berkshire’s cash pile stood at a record $277 billion.
Leave a Reply