Warren Buffett’s conglomerate has added another zero to its list after a months-long stock sell-off. Bank of America Shares of the corporation.
In the 14th liquidation, Berkshire Hathaway Inc. has eclipsed $10 billion in total proceeds from offloading its stake in the second-largest U.S. bank, a regulatory filing released Monday showed. Buffett, 94, began scaling back his large investments in mid-July, putting pressure on the stock price since then.
In the latest round of trading, Berkshire took in $383 million in three trading days as the company sold fewer shares than in previous rounds. His company filings show that Buffett’s stock sales trended downward as the stock price fell to $39. Shares closed at $39.96 on Monday.
Berkshire’s remaining 10.1% stake is worth about $31.4 billion at that price.
