Warren Buffet’s investment firm Berkshire Hathaway Inc (NYSE:BRK.A) has sold more Bank of American stock, bringing its sales to more than $3 million this month.
The firm has been securing profits after the US bank’s shares have added more than 20% in the year to date, closing at about $41 per share on Monday.
Berkshire sold 18.4 million shares for $767 million between July 25 and 29, according to a regulatory filing on Monday evening.
It has sold 71.2 million shares for $3.05 billion since July 17.
This has reduced the firm's stake in the bank by 6.9% to 961.5 million shares, which still represents an approximately 12.4% stake worth about $39.5 billion at Monday’s closing bell.
Berkshire Hathaway first invested in Bank of America in 2011, pouring $5 billion into the bank during the US debt-ceiling crisis.