(Bloomberg) — Warren Buffett’s sales of Bank of America Corp. stock slowed for a third straight round, fetching some of the lowest prices since he began a spree of liquidations in mid-July.

Most Read from Bloomberg

Buffett’s Berkshire Hathaway Inc. reaped $338 million by selling the shares this week, according to a filing Wednesday that disclosed his 13th round of disposals. That’s down from an average of about $750 million per round — generally comprising three days — over the course of the past few months.

The average price fetched on Tuesday and Wednesday was $39.40 — less than what he got on all but a few prior trading days.

Buffett, 94, hasn’t said why he’s paring Berkshire’s massive stake in the bank, in which the conglomerate still ranks as the top shareholder. Its remaining holding amounts to 10.2% of the stock, worth more than $31 billion.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision