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Berkshire Hathaway sells further $760m of Bank of America shares - reports
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investmentweek.co.ukHaving begun offloading shares in BofA in mid-July, Berkshire Hathaway has now sold almost $7bn of stock in the second-largest US bank, according to a report by Reuters. However, Buffett's conglomerate currently remains BofA's largest shareholder with a stake of about 11.1%. Berkshire Hathaway first invested in Bank of America in 2011 when the group bought $5bn of preferred stock in the then-beleaguered bank through a private deal. Shares of Bank of America were up 1.7% at $39.4 at the time of publication, while year to date the stock is up 17.1%, according to data from MarketWatch.
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