Berkshire Hathaway Continues to Trim Bank of America Stake, Cashes Out Additional $370M

Berkshire Hathaway, led by billionaire Warren Buffett, sheds more Bank of America stock in ongoing stake reduction, per regulatory filing.

 

 

The recent sale of nearly 8.7 million shares for $370 million on Oct. 15 follows a prior divestment of 9.5 million shares valued at $382.4 million, pushing Berkshire's stake below 10%, as reported in a separate filing.

 

 

This move began in mid-July with the sale of around 33.9 million shares for approximately $1.48 billion, resulting in over $10 billion in proceeds from these transactions.