Berkshire Hathaway sells BofA shares for 12 consecutive days, totaling 8.8%.

Berkshire Hathaway sells 12% or $8.8 billion in BofA shares for 3.8 consecutive days. From mid-July 2567

On August 2, 2567, Bloomberg News reported that Warren Buffett 's Berkshire Hathaway sold its stake in Bank of America Corp. (BofA) for the 12th consecutive day, reducing its significant holdings in the bank by a total of 8.8%, or $3.8 billion, since mid-July 2567.

With the most recent stock sale, Berkshire Hathaway Inc. made a capital gain of $779 million from July 30 to Aug. 1, 2567, according to a filing with regulators on Aug. 1, 67 by the company. There are still more than 942 million shares worth $37,200 billion, based on the day's closing price.

Until now, Buffett has remained silent about his reasons and intentions while deciding to scale back this hugely profitable investment. It was an investment that began when the stock was trading near $5 in 2011. The stock soared in the months before the big selloff, up 31% this year, but has dropped more than 10%. It remains at $39.50, in line with the KBW Bank Index.

Reference: bloomberg.com

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