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.
