Berkshire Hathaway Cuts Stake in Bank of America
BACBank of America(BAC) Investopedia·2024-07-23 00:56

Key TakeawaysWarren Buffett's Berkshire Hathaway reduced its stake in Bank of America by 33.9 million shares over a three-day period last week.The selloff reduced the company's holdings by about 1.5billion,althoughitcontinuestohavenearly1billionsharesofthebankinitsportfolio.Berkshirecontinuestoownalmosta131.5 billion, although it continues to have nearly 1 billion shares of the bank in its portfolio.Berkshire continues to own almost a 13% stake in Bank of America. Bank of America (BAC) shares fell in intraday trading Monday after Warren Buffett’s Berkshire Hathaway (BRK.A) cut its stake in the bank by 1.5 billion. ...