(Bloomberg) — Warren Buffett’s sale of Bank of America Corp. stock slowed for the third round in a row, fetching some of the lowest prices since he began a series of liquidations in mid-July.
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Buffett’s Berkshire Hathaway Inc. has reaped $338 million this week by selling the stock, according to a filing Wednesday unveiling its 13th round of sales. That’s down from the average of about $750 million per round – typically consisting of three days – over the course of recent months.
The average price fetched on Tuesday and Wednesday was $39.40 – less than what it fetched in all but a few previous trading days.
The 94-year-old Buffett has not said why he is reducing Berkshire’s huge stake in the bank, in which the conglomerate is still the largest shareholder. The remaining stake amounts to 10.2% of the shares, worth over $31 billion.
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