Berkshire sells more BofA shares, stake falls below 10% - report
Under U.S. Securities and Exchange Commission rules, shareholders with more than a 10% stake in a company must report stock transactions within two business days, the report added.
Berkshire began reducing its Bank of America holdings in mid-July, when it sold around 33.9 million shares for approximately $1.48 billion.Bank of America isn't the only stock Berkshire has been cutting back on. Earlier in 2024, the conglomerate halved its holdings in Apple (NASDAQ: Buffett originally invested in Bank of America in 2011, purchasing $5 billion worth of its preferred stock, the report added.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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