Buffett Keeps Selling BofA, Erasing Stock’s Lead on US Peers
- Berkshire selling spree extended to 12th straight trading day
- Bank was ahead of broader index before disposals began in July
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Warren Buffett sold shares of Bank of America Corp. for the 12th straight day, wiping away the lender’s lead on its benchmark index this year as his conglomerate trims the longtime investment.
His Berkshire Hathaway Inc. has cut its stake in the bank by a total of 8.8% since mid-July, generating $3.8 billion in proceeds. Berkshire disclosed the latest round of disposals in a regulatory filing late Thursday, saying it reaped $779 million on July 30 through Aug. 1.