Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK) sold an additional $863 million of Bank of America Corp (NYSE:BAC) stock, reducing its stake closer to a 10% regulatory threshold, according to the company’s regulatory filing with U.S. Securities and Exchange Commission.
What Happened: Berkshire now owns close to 10% of the second-largest U.S. bank after the latest disposals over three trading days through Tuesday.
Buffett, 94, began trimming the massive investment in mid-July. Despite months of sales, Berkshire’s remaining stake in Bank of America is valued at $32.1 billion, based on Tuesday’s closing price, maintaining its position as the largest shareholder.
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