Warren Buffett sells $338 million Bank of America stock
Warren Buffett’s sales of Bank of America shares have slowed for the third consecutive round, with recent transactions fetching some of the lowest prices since he started selling in mid-July.
Berkshire Hathaway, Buffett‘s company, made $338 million from the latest sale, according to a filing detailing this 13th round of disposals. This is significantly lower than the average of $750 million per round in previous months, which involved three-day sales.
The average selling price for this round was $39.40, lower than most previous sales. Although Buffett hasn’t revealed his reasons for reducing Berkshire’s large stake in the bank, the conglomerate remains the largest shareholder, with a 10.2% holding valued at over $31 billion.
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