Buffett’s Berkshire Hathaway first invested in the bank in 2011 amid the fallout from the 2008 financial crisis.
Billionaire investor Warren Buffett has dumped more than $3 billion worth of shares in Bank of America over the past weeks, taking profits after a big run-up in the second-largest US lender’s stock price.
Last year, Warren Buffett, seen here with BoA CEO Brian Moynihan in September, said he had no plans to pull back from his stake in the major U.S. lender.Berkshire Hathaway remains the bank’s largest shareholder with almost 962 million shares, worth just over $39.5 billion.A spokesperson for Bank of America declined to comment.
Facebook admits it wrongly censored iconic photo of bleeding Trump pumping his fist after assassination attempt: 'This was an error' It helped to soothe investor concern and drove the share price higher, creating a paper profit of several million dollars.Berkshire Hathaway eventually amassed a stake of over 10%, requiring approval from regulators.
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