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(Edaily reporter Zhang Yizhen) It was revealed that Berkshire Hathaway (BRK.B) sold 14 million shares of Bank of America (BAC) for approximately US$550 million.
As a result, Berkshire Hathaway’s stake in the bank fell to 12%.
Influenced by this news, Bank of America’s stock price was trading at $38 on the 20th (local time), down 2% from the previous trading day. According to Barron’s, Berkshire Hathaway’s average price for the three trading days from the 15th to the 19th was $39.50 per share.
After the transaction, Berkshire Hathaway’s holdings in Bank of America were confirmed to be 928 million shares, worth approximately US$37 billion.
Berkshire Hathaway has recently shown signs of reducing its holdings, including selling Bank of America shares for 12 consecutive trading days in July.
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