In the latest announcement, Berkshire Hathaway sold nearly 19 million shares of Bank of America stock this week, worth about $0.8 billion. The company has been reducing its holdings of Bank of America stock for six consecutive trading days. Bank of America remains Berkshire's second-largest holding, second only to Apple.
Under Buffett, the $Berkshire Hathaway-B (BRK.B.US)$A document submitted to the US Securities and Exchange Commission (SEC) on Wednesday, July 24th, showed that the company sold its 'darling stocks' on three consecutive trading days this week.$Bank of America (BAC.US)$stocks for the past ten years.
According to the announcement, Berkshire Hathaway sold nearly 19 million shares of Bank of America stock, with a total amount of approximately $0.8 billion from Monday to Wednesday (July 22 to 24).
Last week, between July 17 and 19, Berkshire Hathaway reduced its holdings of Bank of America stock by a total of 33.89 million shares, with a total amount of about $1.476 billion.
This means that Berkshire Hathaway has sold this stock for six consecutive trading days, with a cumulative sale of nearly 52.89 million shares. Some investors have raised their guards and are closely watching whether Berkshire Hathaway will sell Bank of America stock again in the next few days.
As of now, Berkshire Hathaway holds 0.98 billion shares of Bank of America stock, accounting for 12.6% of its total equity, worth about $41 billion. Bank of America remains Berkshire's second-largest holding, second only to $Apple (AAPL.US)$.
On Wednesday, July 24th, Bank of America's stock price fell 0.52% to $42.19 per share. However, it rose by 0.52% in after-hours trading.
Earlier this month, Bank of America's stock price rose to a two-and-a-half-year high. Since the beginning of this year, Bank of America's stock price has risen more than 26%.
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