Berkshire Sold Bank of America Stock Again. Here’s Why.

Berkshire Sold Bank of America Stock Again. Here’s Why. · Barrons.com

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Berkshire Hathaway sold more Bank of America stock on Tuesday after the bank reported third-quarter earnings, bringing its stake to just below 10%. Berkshire sold 8.7 million shares for about $370 million and now holds 766.3 million shares, according to a Form 4 filing with the Securities and Exchange Commission late Thursday. Berkshire had fallen below the 10% mark with sales of Bank of America stock last week, but its percentage ownership moved just above 10% on Tuesday after the company said it repurchased $3.5 billion of stock in the third quarter, reducing its share count by about 70 million shares.