Warren Buffett's Berkshire Hathaway Sells More BofA Shares

Warren Buffett's Berkshire Hathaway (BRK.A,BRK.B) sold much shares of Bank of America (BAC) complete nan past week, extending Berkshire's pullback from 1 of its biggest bets aft a runup successful nan bank's banal price.

Berkshire Hathaway sold astir 18.41 cardinal shares from July 25 to July 29, a filing Monday showed. The move comes aft Berkshire sold astir 34 cardinal shares of Bank of America earlier this month, erstwhile Bank of America shares deed a two-year precocious pursuing an net beat.

Despite Cuts, Berkshire Retains Large BofA Stake

Despite trimming its stake, Berkshire owns astir 961.65 cardinal Bank of America shares, weighted astatine astir $39.51 cardinal astatine Bank of America's closing value Monday of $41.09.

That bring Berkshire's liking successful Bank of America to astir 12.3%, and still makes Bank of America Berkshire's second-largest holding aft Apple (AAPL).

Berkshire's income travel aft Bank of America shares climbed successful nan aftermath of its latest net beat, driven by maturation successful finance banking. Bank of America shares deed their highest constituent successful complete 2 years aft nan net report, but person since slipped astir 5% to $41.60 arsenic of Tuesday morning.

Berkshire Hathaway's Class B shares were small changed Tuesday pursuing nan news, edging 0.5% higher to $440.48, beneath record levels reached earlier this month.