Buffett's Berkshire continues to reduce Bank of America stake
Oct 17 (Reuters) -Billionaire Warren Buffett's Berkshire Hathaway BRKa.N hasunloaded more Bank of America BAC.N stock as it continues to trim stake in the U.S. banking giant, according to a regulatory filing.
Berkshire sold nearly 8.7 million shares for $370 million, as of Oct. 15, the filing showed.
Last week, Berkshire sold 9.5 million shares worth $382.4 million that brought its stake in the company to below 10%, according to a separate regulatory filing.
The investment giant began trimming itsstake in mid-July when it sold about 33.9 million shares for around $1.48 billion. Since then, it has netted more than $10 billion from these sales.
Buffett, one of the world's most revered investors, first invested in Bank of America back 2011 when he purchased $5 billion worth of its preferred stock.
Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Tasim Zahid
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