Reported 3 months ago
Warren Buffett's Berkshire Hathaway has sold more than $3 billion of its Bank of America shares this month, reducing its stake in the bank by 6.9% to 961.5 million shares. This follows a significant increase in the bank's stock price, which has nearly doubled since late October. Despite the sales, Berkshire Hathaway remains the largest shareholder with a 12.4% stake worth approximately $39.5 billion. Buffett, who has been a long-time supporter of Bank of America and its CEO Brian Moynihan, had previously praised the bank high ahead of this selling spree.
Source: YAHOO